Download Book Title : House of Cards: A Tale of Hubris and Wretched Excess on Wall Street
(Format : mp3 , Language : English)
On March 5, 2008, at 10:15 A.M., a hedge fund manager in Florida wrote a post on his investing advice Web site that included a startling statement about Bear Stearns & Co., the nations fifth-largest investment bank: In my book, they are insolvent.
This seemed a bold and risky statement. Bear Stearns was about to announce profits of $115 million for the first quarter of 2008, had $17.3 billion in cash on hand, and, as the company incessantly boasted, had been a colossally profitable enterprise in the eighty-five years since its founding.
Ten days later, Bear Stearns no longer existed, and the calamitous financial meltdown of 2008 had begun.
How this happened and why is the subject of William D. Cohans superb and shocking narrative that chronicles the fall of Bear Stearns and the end of the Second Gilded Age on Wall Street. Bear Stearns serves as the Rosetta Stone to explain how a combination of risky bets, corporate political infighting, lax government regulations and truly bad decision-making wrought havoc on the world financial system.
Cohans minute-by-minute account of those ten days in March makes for breathless reading, as the bankers at Bear Stearns struggled to contain the cascading series of events that would doom the firm, and as Treasury Secretary Henry Paulson, New York Federal Reserve Bank President Tim Geithner, and Fed Chairman Ben Bernanke began to realize the dire consequences for the world economy should the company go bankrupt.
But HOUSE OF CARDS does more than recount the incredible panic of the first stages of the financial meltdown. William D. Cohan beautifully demonstrates why the seemingly invincible Wall Street money machine came crashing down. He chronicles the swashbuckling corporate culture of Bear Stearns, the strangely crucial role competitive bridge played in the companys fortunes, the brutal internecine battles for power, and the deadly combination of greed and inattention that helps to explain why the companys leaders ignored the danger lurking in Bears huge positions in mortgage-backed securities.
The author deftly portrays larger-than-life personalities like Ace Greenberg, Bear Stearns miserly, take-no-prisoners chairman whose memos about re-using paper clips were legendary throughout Wall Street; his profane, colorful rival and eventual heir Jimmy Cayne, whose world-champion-level bridge skills were a lever in his corporate rise and became a symbol of the reasons for the firms demise; and Jamie Dimon, the blunt-talking CEO of JPMorgan Chase, who won the astonishing endgame of the saga (the Bear Stearns headquarters alone were worth more than JP Morgan paid for the whole company).
Cohans explanation of seemingly arcane subjects like credit default swaps and fixed- income securities is masterful and crystal clear, but it is the high-end dish and powerful narrative drive that makes HOUSE OF CARDS an irresistible read on a par with classics such as LIARS POKER and BARBARIANS AT THE GATE.
Written with the novelistic verve and insider knowledge that made THE LAST TYCOONS a bestseller and a prize-winner, HOUSE OF CARDS is a chilling cautionary tale about greed, arrogance, and stupidity in the financial world, and the consequences for all of us.
Link to start the download House of Cards: A Tale of Hubris and Wretched Excess on Wall Street
Author(s) Book :William D Cohan
Publish Year :1970 Publisher :
You can check by ISBN10/ISBN13 : /
All Book readable online or download on PDF and mor formats for PC PDA MAC IPAD Nook mobile and more devices. Here Best Online Internet Library
Here Best Online Internet Library. You can download e-Books online on English, ebooks on French, Books on German, Books on Italian, Books on Spanish, Books on Other Languages.
Keyword(s):
House of Cards: A Tale of Hubris and Wretched Excess on Wall Street free ebookHouse of Cards: A Tale of Hubris and Wretched Excess on Wall Street book downloaddownload House of Cards: A Tale of Hubris and Wretched Excess on Wall Street free ebookromance ebook download forumebook downloads for childrenebooks sonybooks online for kidsreading ebooks onlinePages : 0
Download EBook in Formats : djvu, pdf, doc, cfm
Download Audio EBook in Formats : mp3
. .
. .
. .
. .
. .
. .
. .
. .
. .
. .
. .
. .
. .
. .
. .
. .
. .
. .
. .
. .
. .
. .
. .
. .
. .
Other E-Book for Download :
Adobe Pro/ENGINEER Wildfire 3.0 f?r Fortgeschrittene - kurz und b?ndig: Grundlagen mit ?bungen Book
Ebook Theory of excitable media Download
Electron-positron Physics At the Z Ebook For Nook
Download The ABCs of LDAP: How to Install, Run, and Administer LDAP Services Ebook
Penetrating Wisdom: The Aspiration of Samantabhadra Pdf Download
Adobe Statistical Thermodynamics: Fundamentals and Applications Book
Adobe Power Electronics Design Handbook: Low-Power Components and Applications Book
Goldfrank's Toxicologic Emergencies Ebook To Nook
Ebook Convexity
Founding Fighters: The Battlefield Leaders Who Made American Independence Ebook For Free
Downhill All the Way Download File
Advanced Digestive Endoscopy - ERCP Pdf Download
An Introduction to Involutive Structures Free Ebook
Adobe Microsoft Exchange Server 2007: A Beginner's Guide Book
Studies in Language and Linguistics Download File
Adobe Chemolithoautotrophic Bacteria: Biochemistry and Environmental Biology Book
UTU Ebooks Library
Ebook When I Don't Desire God: How to Fight For Joy Download
Format Pdf Mary Kingsley: Explorer of the Congo Ebook
IBM Certification Study Guide AIX Installation and System Recovery Free Ebook
