The Murder of Lehman Brothers: An Insider's Look at the Global Meltdown
Author: Joseph Tibman
Publisher: Brick Tower Books
"Tibman believes that as much as anything, what killed Lehman was Fuld's emasculation of the risk management function, which served as a moral compass." The Huffington Post, David Fiderer
"...the lesson from Tibman's memoir of Lehman is the profound ambiguity of a seductive culture and an all-powerful, if Wizard of Oz-like leader." --The Deal Magazine
"Given that so much greed (and irrationality) often abounds on Wall Street, the fact that Tibman's work takes aim at this is laudable." --Seeking Alpha
- Product Description:
- On the first anniversary of the murder of Lehman, Joseph Tibman, a 20-year veteran and senior investment banker, reveals in plain English, the people and forces that share responsibility for this catastrophe. His shattering account is told as only a true Lehman insider's account could be told, by someone who spent two decades at the firm.
Writing under pseudonym, Joseph Tibman, the author explains the feud that erupted, soon after the death of the last Lehman Family CEO, between the two "houses" of Lehman--the investment bankers and the sales and trading group. He provides the most detailed account on record of the rise of Dick Fuld from junior trader to CEO who rose above his legendary inarticulateness nickname just once, but profoundly, at the seminal, game-changing moment of the 9/11 attacks.
The Murder of Lehman Brothers is the story of greed run amok. The story is told in the words of someone who was there when Lehman, post 9/11, became the firm that always outperformed; someone who was a witness to what a small handful of people inside Lehman did to crush it with the assistance of misguided, inept politicians and a dysfunctional, antiquated regulatory infrastructure. The Murder of Lehman Brothers is not only for those who earn their livings (or used to) working in the financial markets. It is written simply for anyone who wants to understand the perfect storm of screw-ups that has led to the current crisis. It is a primer that explains why action must be taken to ensure no one is ever again in a position to dismantle the system or bet the bank, bringing down major institutions and threatening the entire global economy.