"Engrossing....[Cohan] gives us in these pages a chilling, almost minute-by-minute account of the 10, vertigo-inducing days that one year ago revealed Bear Stearns to be a flimsy house of cards in a perfect storm....He does a deft job of explicating the underlying reasons that put Bear Stearns in peril in the first place....turns complex Wall Street maneuverings into high drama that is gripping — and almost immediately comprehensible — to the lay reader....riveting, edge-of-the-seat reading"
--Michiko Kakutani, The New York Times
"Cohan vividly documents the mix of arrogance, greed, recklessness, and pettiness that took down the 86 year old brokerage house and then the entire economy. It's a page-turner in the tradition of the 1990 Barbarians at the Gate by Bryan Burrough and John Heylar, offering both a seemingly comprehensive understanding of the business and wide access to insiders....hard to put down, especially thanks to its dishy, often profane, quotes from insiders" --BusinessWeek
"Masterfully reported....[Cohan] has turned into one of our most able financial journalists....he deploys not only his hands-on experience of this exotic corner of the financial industry but also a remarkable gift for plain-spoken explanation...the other great strength of this important book is the breadth and skill of the author's interviews...Cohan does a brilliant job of sketching in the eccentric, vulgar, greedy, profane and coarse individuals who ignored all these warnings to their own profit and the ruin of so many others. It's impossible to do justice to his reportorial detail in a brief review..." -- Los Angeles Times
"A riveting blow-by-blow account of the days leading up to the government-backed shotgun wedding (to JPM)." -- The Economist
"A masterly reconstruction of Bear Stearns implosion--a tumultuous episode in Wall Street history that still reverberates throughout our economy today....meticulous reporting.....first drafts of history don't get much better than this" --Bloomberg
On the evening of March 16, 2008, Bear Stearns, a swashbuckling 85-year-old institution in the financial world, sold itself for an outrageously low price to JP Morgan Chase, the $2 trillion global behemoth. Bestselling author and former investment banker William D. Cohan gives the reader a front-row seat to Bear Stearn's catastrophic unraveling at the seams in a narrative that reads like a thriller. Bear Stearn's demise involved subtle strands of blame that stretch around the globe. "House of Cards" shows how the Bear Sterns saga was a microcosm of the disastrous financial bust that followed an irrational boom. That boom had 'the Bear' clocking in a record-high stock price, with Wall Street honchos throwing parties that would make Marie Antoinette blush for their blatant extravagance.Then the slumping housing market and hedge funds' bad bets on sub-prime mortgages swept into the market, and suddenly the once-flush Bear Stearns and other financial institutions were struggling to stay afloat. As Bear Sterns' stock price spiralled downward, an internal battle to find a scapegoat ensued, with all the drama of a daytime soap and backstabbing galore.
"House of Cards" is a delicious narrative about corporate greed on a truly epic scale. Cohan relates how the lack of foresight and regulation in an uncertain economy forced the government and Wall Street to take increasingly desperate and unprecedented measures to stop the carnage before the entire economy melted down.
-- Dieser Text bezieht sich auf eine vergriffene oder nicht verfügbare Ausgabe dieses Titels.