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Tag Archives: lehman
The Responsibility Revolution
We have always known that heedless self-interest was bad morals,” FDR said in 1937, in the midst of the Great Depression. “We know now that it is bad economics.” We learned this all over again after the collapse of Lehman Brothers, the shame of subprime mortgages and the brazen Ponzi scheme of Bernie Madoff.
Wall Street’s young guns
Wall Street’s young guns Blackstone has a rep for growing young talent. Steve Schwarzman’s strategy: managing overachievers How Blackstone grooms talent Plenty of young guns work away at the big banks, but the Blackstone Group gives autonomy and power to its rising stars to such a degree that it has garnered a reputation as one […]
Intelligence Lapses: The Risks of Relying on ‘Chatter’
If early last September you’d parked outside Lehman Brothers’ Manhattan headquarters with a cell-phone scanner and listened only to some of the “chatter” coming out of Lehman’s front office, you almost certainly would have realized that Lehman was going under. But to understand the wider consequences, how capitalism was about to do a somersault into the watery abyss, you would have needed to understand how Lehman fit into the global financial system