House of cards : a tale of hubris and wretched excess on Wall Street
(Book)
Author
Published
New York : Doubleday, ©2009., New York : Doubleday, [2009].
Edition
First edition.
Physical Desc
468 pages ; 25 cm.
Status
Description
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Copies
| Location | Call Number | Status |
|---|---|---|
| Lamar Public Library (C426) - NONFICTION | 332.660 COH | On Shelf |
| Ruby Sisson Library - NONFICTION | 332.66 COH, W | On Shelf |
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More Details
Published
New York : Doubleday, ©2009., New York : Doubleday, [2009].
Format
Book
Edition
First edition.
Language
English
Notes
Bibliography
Includes bibliographical references (p. [451]-456) and index.
Description
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.
Study Program Information
Not AR rated.
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Citations
APA Citation, 7th Edition (style guide)
Cohan, W. D. (2009). House of cards: a tale of hubris and wretched excess on Wall Street (First edition.). Doubleday.
Chicago / Turabian - Author Date Citation, 17th Edition (style guide)Cohan, William D. 2009. House of Cards: A Tale of Hubris and Wretched Excess On Wall Street. Doubleday.
Chicago / Turabian - Humanities (Notes and Bibliography) Citation, 17th Edition (style guide)Cohan, William D. House of Cards: A Tale of Hubris and Wretched Excess On Wall Street Doubleday, 2009.
MLA Citation, 9th Edition (style guide)Cohan, William D. House of Cards: A Tale of Hubris and Wretched Excess On Wall Street First edition., Doubleday, 2009.
Note! Citations contain only title, author, edition, publisher, and year published. Citations should be used as a guideline and should be double checked for accuracy. Citation formats are based on standards as of August 2021.
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