Uncontrolled Risk: Lessons of Lehman Brothers and How Systemic Risk Can Still Bring Down the World Financial System
Why was Lehman ignored when everyone else was bailed out?
A risk advisor for top financial institutions and top B-school professor, Mark Williams explains how uncontrolled risk toppled a 158-year-old institution, using this story as a microcosm to illuminate the interconnection of the global financial system, as well as broader policy implications.
This story is told through the eyes of an experienced risk manager and educator in a detailed and engaging way and provides the reader with a complete summary of how a savvy company with sophisticated employees and systems could have gotten it so wrong.
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Chapter 3 From Private to Public
Chapter 4 History of Investment Banking
Chapter 5 How the Investment Banking Money Machine Works
Chapter 6 The RollerCoaster 1980s
Chapter 8 Lehmans NearDeath Experience
Chapter 11 The Real Estate Bet and the Race to the Bottom
Chapter 12 The Bear Mauling
Chapter 13 Time Runs Out
Chapter 14 The Death of Lehman Regulation and Investment Banking
Chapter 15 The Enablers and the Deciders
The PostLehman Financial Landscape
Lehman Chronology 18452010
Chapter 9 Innovation Imitation and Increased Risk
Chapter 10 Lehmans Risk Management