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The Murder of Lehman Brothers: An Insider's

The Murder of Lehman Brothers: An Insider's Look at the Global Meltdown

Joseph Tibman
2009
T4 Open Librarygoodreads

Pseudonymous insider account.

Summary

The reference has not verified this book in detail; the summary states only what the title, author and subject establish.

This account of the Lehman Brothers collapse was published under the pseudonym Joseph Tibman by an author identified as a long-serving Lehman investment banker. It was written and published within a year of the failure.

The perspective is that of an employee rather than of a senior executive, and the book covers the firm's culture, the relationship between the investment banking and trading businesses, the concentration in commercial real estate and mortgages, the management under Richard Fuld and Joseph Gregory, and the final months as counterparties withdrew. The title states the author's thesis, which is that the firm was allowed to fail for reasons that had little to do with its actual condition.

The reference has not verified this book in detail. It is a pseudonymous insider account published very quickly, without the documentary record that later work drew on, and its central claim about the failure being avoidable is treated more rigorously by Laurence Ball. Readers wanting the institutional account should go to Ball, to Oonagh McDonald or to the Valukas examiner's report.

Key takeaways 6

  1. The author argues that Lehman's failure was permitted rather than unavoidable, which later work by Laurence Ball examines rigorously.
  2. Lehman's concentration in commercial real estate and mortgages left it dependent on markets that closed simultaneously.
  3. The firm's culture rewarded the businesses producing current profit, which directed capital toward the exposures that destroyed it.
  4. Counterparty withdrawal in the final months proceeded faster than management could respond to.
  5. The account is pseudonymous, written within a year of the events, and predates the documentary record.
  6. Readers wanting the institutional analysis should go to Ball, McDonald or the bankruptcy examiner's report.

Who should read it

Readers interested in an employee-level perspective on Lehman's final period, with the caveat that this entry is not verified in detail.

Similar books 6

Chosen by shared topics, the entries that hold them, and the people who recommended both.

A Colossal Failure of Common SenseA Colossal Failure of Common Sense
T2 A Colossal Failure of Common Sense
Lawrence G. McDonald, Patrick Robinson · 2009
Open LibraryGoodreads

Lehman Brothers' fall seen from its trading floor, and the warnings it ignored.

Lehman Brothers: A Crisis of Value
T3 Lehman Brothers: A Crisis of Value
Oonagh McDonald · 2015
Open LibraryGoodreads

Focused on accounting and Repo 105.

The Devil's Casino: Friendship, Betrayal, anThe Devil's Casino: Friendship, Betrayal, and the High-Stakes Games Played Inside Lehman Brothers
T2 The Devil's Casino: Friendship, Betrayal, and the High-Stakes Games Played Inside Lehman Brothers
Vicky Ward · 2010
Open LibraryGoodreads

Lehman Brothers' internal culture and the relationships among its top executives.

The Fed and Lehman BrothersThe Fed and Lehman Brothers
T2 The Fed and Lehman Brothers
Laurence M. Ball · 2018
Open LibraryGoodreads

Evidence that the Fed could legally have saved Lehman Brothers in 2008.

Too Big to FailToo Big to Fail
T1 Too Big to Fail
Andrew Ross Sorkin · 2009
Open LibraryGoodreads

Inside the meetings of bankers and regulators during the 2008 financial crisis.

Recommended by: Mohnish Pabrai, Bill Gates, Max Levchin and 1 other

Street Freak: Money and Madness at Lehman BrStreet Freak: Money and Madness at Lehman Brothers
T3 Street Freak: Money and Madness at Lehman Brothers
Jared Dillian · 2011
Open LibraryGoodreads

Insider memoir by a Lehman ETF trader.

Where it sits in the reference 2

Lehman Brothers
Companies
The 2008 financial crisis
Financial panics

Topics

Company HistoriesFinancial History