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Street Freak: Money and Madness at Lehman Brothers

Jonathan Hayes

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Lehman Brothers was once one of the largest and most respected investment banks in the world. But in September 2008, the firm collapsed, triggering a global financial crisis.

Street Freak: Money and Madness at Lehman Brothers

by Jared Dillian

4.3 out of 5

Language	:	English
File size	:	1144 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	370 pages

In his book, Street Freak, Michael Lewis tells the story of the rise and fall of Lehman Brothers. Lewis draws on interviews with former Lehman employees, regulators, and other experts to paint a vivid picture of the firm's culture and the events that led to its collapse.

Lewis argues that Lehman Brothers was a victim of its own success. The firm's rapid growth in the early 2000s led to a culture of recklessness and greed. Lehman's traders and bankers took on increasingly risky bets, and the firm's management failed to adequately oversee their activities.

As a result of its excessive risk-taking, Lehman Brothers was particularly vulnerable to the subprime mortgage crisis that began in 2007. When the housing market collapsed, Lehman's losses mounted rapidly. The firm was unable to raise new capital to cover its losses, and it was forced to file for bankruptcy on September 15, 2008.

The collapse of Lehman Brothers had a devastating impact on the global economy. The firm's failure caused a loss of confidence in the financial system, and it led to a sharp decline in stock prices and economic growth.

Review

Street Freak is a fascinating and informative account of the rise and fall of Lehman Brothers. Lewis's writing is clear and engaging, and he does an excellent job of explaining the complex financial concepts that contributed to the firm's collapse.

Lewis's book is a must-read for anyone who wants to understand the financial crisis of 2008. It is also a valuable cautionary tale about the dangers of recklessness and greed in the financial industry.

Street Freak is a powerful and important book. It is a reminder of the dangers of financial excess, and it provides a cautionary tale about the importance of regulation in the financial industry.

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Street Freak: Money and Madness at Lehman Brothers

by Jared Dillian

4.3 out of 5