The Devil's Casino

Author: Vicky Ward
Publisher: Wiley
ISBN: 0470638214
Category : Business & Economics
Languages : en
Pages : 272

Book Description
The inside story of what really happened at Lehman Brothers and why it failed In The Devil's Casino: Friendship, Betrayal, and the High Stakes Games Played Inside Lehman Brothers, investigative writer and Vanity Fair contributing editor Vicky Ward takes readers inside Lehman's highly charged offices. What Ward uncovers is a much bigger story than Lehman losing at the risky game of collateralized debt obligations, swaps, and leverage. A can't put it down page turner that opens the world of Wall Street to view unlike any book since Bonfire of the Vanities, except that The Devil's Casino isn't fiction. Details what went on behind-the-scenes the weekend Lehman Brothers failed, as well as inside Lehman during the twenty years preceding it Describes the feudal culture that proved both Lehman's strength and its Achilles' heel Written by Vicky Ward, one of today's most connected business and finance writers On Wall Street, Lehman Brothers was cheekily known as "the cat with nine lives." But as The Devil's Casino documents, this cat pushed its luck too far and died?the victim of men and women blinded by arrogance.

The Devil's Casino

Author: Vicky Ward
Publisher: John Wiley & Sons
ISBN: 111801149X
Category : Business & Economics
Languages : en
Pages : 310

All the Devils Are Here

Author: Bethany McLean
Publisher: Penguin
ISBN: 1101551054
Category : Business & Economics
Languages : en
Pages : 503

Book Description
Hailed as "the best business book of 2010" (Huffington Post), this New York Times bestseller about the 2008 financial crisis brings the devastation of the Great Recession to life. As soon as the financial crisis erupted, the finger-pointing began. Should the blame fall on Wall Street, Main Street, or Pennsylvania Avenue? On greedy traders, misguided regulators, sleazy subprime companies, cowardly legislators, or clueless home buyers? According to Bethany McLean and Joe Nocera, two of America's most acclaimed business journalists, many devils helped bring hell to the economy. All the Devils Are Here goes back several decades to weave the hidden history of the financial crisis in a way no previous book has done. It explores the motivations of everyone from famous CEOs, cabinet secretaries, and politicians to anonymous lenders, borrowers, analysts, and Wall Street traders. It delves into the powerful American mythology of homeownership. And it proves that the crisis ultimately wasn't about finance at all; it was about human nature. Just as McLean's The Smartest Guys in the Room was hailed as the best Enron book on a crowded shelf, so will All the Devils Are Here be remembered for finally making sense of the financial meltdown and its consequences.

Satan's Playground

Author: Paul J Vanderwood
Publisher: Duke University Press
ISBN: 082239166X
Category : History
Languages : en
Pages : 410

Book Description
Satan’s Playground chronicles the rise and fall of the tumultuous and lucrative gambling industry that developed just south of the U.S.-Mexico border in the early twentieth century. As prohibitions against liquor, horse racing, gambling, and prostitution swept the United States, the vice industry flourished in and around Tijuana, to the extent that reformers came to call the town “Satan’s Playground,” unintentionally increasing its licentious allure. The area was dominated by Agua Caliente, a large, elegant gaming resort opened by four entrepreneurial Border Barons (three Americans and one Mexican) in 1928. Diplomats, royalty, film stars, sports celebrities, politicians, patricians, and nouveau-riche capitalists flocked to Agua Caliente’s luxurious complex of casinos, hotels, cabarets, and sports extravaganzas, and to its world-renowned thoroughbred racetrack. Clark Gable, Jean Harlow, Louis B. Mayer, the Marx Brothers, Bing Crosby, Charlie Chaplin, Gloria Swanson, and the boxer Jack Dempsey were among the regular visitors. So were mobsters such as Bugsy Siegel, who later cited Agua Caliente as his inspiration for building the first such resort on what became the Las Vegas Strip. Less than a year after Agua Caliente opened, gangsters held up its money-car in transit to a bank in San Diego, killing the courier and a guard and stealing the company money pouch. Paul J. Vanderwood weaves the story of this heist gone wrong, the search for the killers, and their sensational trial into the overall history of the often-chaotic development of Agua Caliente, Tijuana, and Southern California. Drawing on newspaper accounts, police files, court records, personal memoirs, oral histories, and “true detective” magazines, he presents a fascinating portrait of vice and society in the Jazz Age, and he makes a significant contribution to the history of the U.S.-Mexico border.

Summary of Vicky Ward's The Devil's Casino

Author: Everest Media,
Publisher: Everest Media LLC
ISBN:
Category : Political Science
Languages : en
Pages : 44

Book Description
Please note: This is a companion version & not the original book. Sample Book Insights: #1 On June 7, 2008, George Herbert Walker, a 39-year-old second cousin of then President George W. Bush, and head of Lehman's Investment Management division, was celebrating his marriage to Nancy Dorn, a 31-year-old hedge fund analyst from Texas. The couple had exchanged their vows at New York's City Hall a few weeks earlier. #2 The party was held to celebrate the wedding of George Walker and Nancy Dorn. It was clear that most of the executives at the party were stressed about the company's financial situation. #3 Lehman was founded in 1850 by three cotton trader brothers. The firm expanded after World War II, and under the reign of Bobbie Lehman, who had a Rolodex bursting with names like Whitney, Harriman, and most of the rest of New York's ruling class, it became the gentleman's banking house. #4 After Lehman, the reputation of the firm was still intact. The partners were all rich. In 2007, Fuld was named CEO of the Year by Institutional Investor magazine in the Brokers and Asset Managers category.

The Devil's Derivatives

Author: Nicholas Dunbar
Publisher: Harvard Business Press
ISBN: 1422143163
Category : Business & Economics
Languages : en
Pages : 310

Book Description
A compelling narrative on what went wrong with our financial system—and who’s to blame. From an award-winning journalist who has been covering the industry for more than a decade, The Devil’s Derivatives charts the untold story of modern financial innovation—how investment banks invented new financial products, how investors across the world were wooed into buying them, how regulators were seduced by the political rewards of easy credit, and how speculators made a killing from the near-meltdown of the financial system. Author Nicholas Dunbar demystifies the revolution that briefly gave finance the same intellectual respectability as theoretical physics. He explains how bankers worldwide created a secret trillion-dollar machine that delivered cheap mortgages to the masses and riches beyond dreams to the financial innovators. Fundamental to this saga is how “the people who hated to lose” were persuaded to accept risk by “the people who loved to win.” Why did people come to trust and respect arcane financial tools? Who were the bankers competing to assemble the basic components into increasingly intricate machines? How did this process achieve its own unstoppable momentum—ending in collapse, bailouts, and a public outcry against the giants of finance? Provocative and intriguing, The Devil’s Derivatives sheds much-needed light on the forces that fueled the most brutal economic downturn since the Great Depression.

Black Box Casino

Author: Robert Stowe England
Publisher: Bloomsbury Publishing USA
ISBN: 0313392900
Category : Business & Economics
Languages : en
Pages : 262

Book Description
This cautionary tale explains how the murky and complex world of mortgage finance caused a global market meltdown—and offers new insights on how to create a stronger world of banking and mortgage finance. Years after the economic crisis of the late 2000s, Americans still want to know what went wrong—and why. Black Box Casino: How Wall Street's Risky Shadow Banking Crashed Global Finance provides an accurate and understandable explanation, compiling and interpreting mountains of evidence to provide clear analysis and insight into the crisis that traumatized people and institutions around the globe. The book provides a thorough, in-depth examination of the multiple contributing factors. The author goes back as far as 15 years before the crisis to show how the well-intentioned idea of providing home ownership prompted a government led effort to steadily weaken credit standards. He assigns partial blame on regulators that were unaware of growing levels of risk, ignored mounting evidence of a housing bubble, and failed to grasp the unintended consequences of certain regulations. The origins of the overload of subprime collateralized debt obligations that led to concentrated risks on the balance sheets of many large banks around the world are also explained.

The Devil's Punchbowl

Author: Greg Iles
Publisher: Simon and Schuster
ISBN: 1416594639
Category : Fiction
Languages : en
Pages : 740

Book Description
From the #1 New York Times bestselling author of the Penn Cage series comes an electrifying thriller that reveals a world of depravity, sex, violence, and the corruption of a Southern town. As a prosecuting attorney in Houston, Penn Cage sent hardened killers to death row. But it is as mayor of his hometown—Natchez, Mississippi—that Penn will face his most dangerous threat. Urged by old friends to try to restore this fading jewel of the Old South, Penn has ridden into office on a tide of support for change. But in its quest for new jobs and fresh money, Natchez, like other Mississippi towns, has turned to casino gambling, and now five fantastical steamboats float on the river beside the old slave market at Natchez like props from Gone With the Wind. But one boat isn't like the others. Rumor has it that the Magnolia Queen has found a way to pull the big players from Las Vegas to its Mississippi backwater. And with them—on sleek private jets that slip in and out of town like whispers in the night—come pro football players, rap stars, and international gamblers, all sharing an unquenchable taste for one thing: blood sport—and the dark vices that go with it. When a childhood friend of Penn's who brings him evidence of these crimes is brutally murdered, the full weight of Penn's failure to protect his city hits home. So begins his quest to find the men responsible. But it's a hunt he begins alone, for the local authorities have been corrupted by the money and power of his hidden enemy. With his family's lives at stake, Penn realizes his only allies in his one-man war are those bound to him by blood or honor: -Caitlin Masters, the lover Penn found in The Quiet Can Game and lost in Turning Angel -Danny McDavitt, the heroic helicopter pilot from Third Degree -Tom Cage, Penn's father and legendary local family physician -Walt Garrity, a retired Texas Ranger who served with Penn's father during the Korean War Together they must defeat a sophisticated killer who has an almost preternatural ability to anticipate—and counter—their every move. Ultimately, victory will depend on a bold stroke that will leave one of Penn's allies dead—and Natchez changed forever. After appearing in two of Iles's most popular novels, Penn Cage makes his triumphant return as a brilliant, honorable, and courageous hero. Rich with Southern atmosphere and marked by one jaw-dropping plot turn after another, The Devil's Punchbowl confirms that Greg Iles is America's master of suspense.

The Devil's Highway

Author: Luis Alberto Urrea
Publisher: Back Bay Books
ISBN: 031604928X
Category : Biography & Autobiography
Languages : en
Pages : 209

Book Description
This important book from a Pulitzer Prize finalist follows the brutal journey a group of men take to cross the Mexican border: "the single most compelling, lucid, and lyrical contemporary account of the absurdity of U.S. border policy" (The Atlantic). In May 2001, a group of men attempted to cross the Mexican border into the desert of southern Arizona, through the deadliest region of the continent, the "Devil's Highway." Three years later, Luis Alberto Urrea wrote about what happened to them. The result was a national bestseller, a Pulitzer Prize finalist, a "book of the year" in multiple newspapers, and a work proclaimed as a modern American classic.

The Liar's Ball

Author: Vicky Ward
Publisher: John Wiley & Sons
ISBN: 1118295315
Category : Business & Economics
Languages : en
Pages : 278

Book Description
Inside the world of the real Great Gatsby of New York real estate Harry Macklowe is one of the most notorious wheelers and dealers of the real estate world, and Liar's Ball is the story of the gamblers and thieves who populate his world. Watch as Harry makes the gutsy bid for midtown Manhattan's famous GM building and put almost no money down, landing the billion-dollar transaction that made him the poster child for New York's real estate royalty. Listen in on the secret conversations, back-door deals, and blackmail that put Macklowe and his cronies on top—and set them up for an enormous fall. Vanity Fair contributing editor Vicky Ward skillfully paints the often scandalous picture of the giants who owned the New York skyline until their empires came crumbling down in the 2008 financial crisis. Based on more than 200 interviews with real estate moguls like Donald Trump, William Zeckendorf, Mort Zuckerman, and David Simon, Liar's Ball is the never-before-told story of the egomaniacal elites of New York City. Read about: The epic rise and fall of one of the richest American real estate barons Outlandish greed and cravings for power, attention, and love Relationships built and destroyed by vanity and gossip The bursting of the real estate bubble and its aftermath This is no fiction—this is a real life tale of extravagance, ambition, and power. Harry Macklowe ruthlessly clawed his way to the top with the help of his loyal followers, each grubbing for a piece of the real estate pie. Liar's Ball reveals their secrets and tells the tale of business as usual for this group—lying, backstabbing, and moving in for the kill when things look patchy. From the bestselling author of The Devil's Casino comes an expos??? on the real estate elite that you'll hardly believe.