¶ … Big to Fail by Andrew Ross Sorkin
Andrew Ross Sorkin's book Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System -- and Themselves (Viking, 2009) presents a dramatic and informative account of the disastrous collapse of some of the nation's largest, wealthiest, and oldest financial firms on Wall Street. The book details the complex negotiations involving the heads of Lehman Brothers, Goldman Sachs, and officials in the federal government, some of whom had long previous relationships with those firms before assuming public-sector positions of trust. In some respects, that aspect of the story told by Sorkin may be the most significant as well as the least thoroughly investigated.
Specifically, U.S. Treasury Secretary at the time was Henry "Hank" Paulson, previously the CEO at Goldman Sachs was legally obligated to limit any involvement with his old firm after taking office in Washington. Without actually stating it, Sorkin seems to all but suggest that Paulson may have violated at least the spirit and perhaps the letter of that understanding. Referring to the plight of Lehman Brothers CEO Richard Fuld, Sorkin writes:
"Richard Fuld, as tightly wound as ever, was raging in his office on...
Big Fail" title a recent book a movie HBO. It refers bailout major financial institutions began 2008, time concern,, United States fall a depression aid. For purpose discussion I include bailout General Motors Chrysler. Too big to fail In the second half of 2007, the real estate sector in the United States of America showed the first signs of weakness. Devaluations were gradually observed and the investments made in the field
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