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The Weekend That Changed Wall Street
Maria Bartiromo
An Eyewitness Account
Portfolio Penguin
September 2010
On Sale: September 7, 2010
240 pages
ISBN: 1591843510
EAN: 9781591843511
Hardcover
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Non-Fiction
A first-person account of the white-knuckle weekend that
brought the financial world to its knees and changed Wall
Street forever, from America s most famous business reporter During a single historic weekend (September 12 14, 2008) the
fate of Lehman Brothers was sealed, Merrill Lynch barely
survived, AIG became a ward of the federal government, and
the roots of our seemingly strong economy teetered on the
edge of collapse. As bankers and government officials
scrambled to keep the economy from total collapse, and
Americans tried to make sense of it all, top CNBC anchor
Maria Bartiromo spent the entire weekend taking frantic
phone calls from the most powerful players on Wall Street
and in Washington. Those CEOs, politicians, and dozens of other sources gave
Bartiromo behind-the-scenes details on the crisis and its
aftermath, the personalities involved, and the emotions at
work during one of the most stressful periods in American
economic history. Now she draws on her high-level network to
provide an eyewitness account of the biggest events of the
financial crisis, including exclusive interviews with former
treasury secretary Henry Paulson, former AIG chairman Hank
Greenberg, former Merrill Lynch CEO John Thain, and former
Bear Stearns chairman Ace Greenberg, among many others. Her sources candidly divulged personal and unreported
information. For example, during a commercial break on her
show, Paulson, who had been explaining the government
bailout package, told her, In six months, you will
understand why we did what we did. It wasn t apparent then,
but months later it was revealed that the government s
secrecy regarding who got the bailout money was intended to
hide the shocking financial condition of Citigroup the
largest bank in the world. Writing with both authority and dramatic flair, Bartiromo
not only weaves a thrilling and fresh account of the events
of that fateful weekend but provides a unique analysis of
the crisis and its aftermath She shows how decades of
unbridled risk taking led to one of the biggest and most
dramatic economic meltdowns in history and tackles the big
questions: is any company too big to fail and if so should
it be? Should the government spend taxpayer dollars to bail
out companies whose plights are largely the result of their
own mismanagement? And finally, what have we learned from
this crisis? Will we return to business as usual or has Wall
Street really changed?
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