{"product_id":"uncontrolled-risk-lessons-of-lehman-brothers-and-how-systemic-risk-can-still-bring-down-the-world-financial-system-9780071638296","title":"Uncontrolled Risk: Lessons of Lehman Brothers and How Systemic Risk Can Still Bring Down the World Financial System","description":"\u003cp\u003e\u003cb\u003eHow Excessive Risk Destroyed Lehman and Nearly Brought Down the Financial Industry\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\"\u003ci\u003eUncontrolled Risk\u003c\/i\u003e will ruffle feathers--and for good reason--as voters and legislators learn thediffi cult lessons of Lehman's collapse and demand that we never forget them.\"\u003cbr\u003e\u003cb\u003eDr. David C. Shimko, Board of Trustees, Global Association of Risk Professionals\u003c\/b\u003e\u003c\/p\u003e\u003cp\u003e\"\u003ci\u003eUncontrolled Risk\u003c\/i\u003e is a drama as gripping as any work of fiction. Williams's recommendations forchanges in the governance of financial institutions should be of interest to anyone concernedabout the welfare of global financial markets.\"\u003cbr\u003e\u003cb\u003eGeoffrey Miller, Stuyvesant Comfort Professor of Law and Director, Center for the Study ofCentral Banks and Financial Institutions, New York University\u003c\/b\u003e\u003c\/p\u003e\u003cp\u003e\"The complex balance of free enterprise on Wall Street and the healthyregulation of its participants is the central economic issue of today.Williams's forensic study of Lehman's collapse may be the bestperspective so far on the issues that now face regulators.\"\u003cbr\u003e\u003cb\u003eJeffrey P. Davis, CFA, Chief Investment Officer, Lee Munder Capital Group\u003c\/b\u003e\u003c\/p\u003e\u003cp\u003e\"Provides a very perceptive analysis of the fl aws inherent in risk management systems and modernfi nancial markets. Mandatory reading for risk managers and financial industry executives.\"\u003cbr\u003e\u003cb\u003eVincent Kaminski, Professor in the Practice of Management, Jesse H. Jones Graduate School of Business, Rice University\u003c\/b\u003e\u003c\/p\u003e\u003cp\u003e\"Gives the reader much food for thought on the regulation of our financial system and its interplaywith corporate governance reform in the United States and around the world.\"\u003cbr\u003e\u003cb\u003eProfessor Charles M. Elson, Edgar S. Woolard Jr. Chair in Corporate Governance, University of Delaware\u003c\/b\u003e\u003c\/p\u003e\u003cp\u003e\u003ci\u003e\u003cb\u003eThe risk taking behind Wall Street's largest bankruptcy . . .\u003c\/b\u003e\u003c\/i\u003e\u003c\/p\u003e\u003cp\u003eIn this dramatic and compelling account ofLehman Brothers' spectacular rise and fall, author Mark T. Williams explains how uncontrolledrisk toppled a 158-year-old institution--and whatit says about Wall Street, Washington, D.C., and theworld financial system. A former trading floor executiveand Fed bank examiner, Williams sees Lehman's2008 collapse as a microcosm of the industry--aworst-case scenario of smart decisions, stupid mistakes, ignored warnings, and important lessons inmoney, power, and policy that affect us all.This book reveals: \u003c\/p\u003e\u003cul\u003e\n\u003cli\u003eThe Congressional inquisition of disgracedCEO Dick Fuld: \u003ci\u003eDid he really deserve it?\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eHow the investment-banking money machinebroke down: \u003ci\u003eCan it be fixed?\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eThe key drivers that caused the financialmeltdown: \u003ci\u003eCan lessons be learnedfrom them?\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eThe wild risk taking denounced by PresidentObama: \u003ci\u003eIs Washington to blame, too?\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eThe ongoing debate on reform andregulation: \u003ci\u003eCan meaningful reform avertanother financial catastrophe?\u003c\/i\u003e\n\u003c\/li\u003e\n\u003c\/ul\u003e\u003cp\u003eThis fascinating account traces Lehman's historyfrom its humble beginnings in 1850 to its collapsein 2008. Lehman's story exemplifies the everchangingtrends in finance--from investmentvehicles to federal policies--and exposes thedanger and infectious nature of uncontrolled risk.\u003c\/p\u003e\u003cp\u003eDrawing upon first-person interviews with riskmanagement experts and former Lehman employees, Williams provides more than just a frontlinereport: it's a call to action for Wall Street bankers, Washington policymakers, and U.S. citizens--a livinglesson in risk management on which to build astronger fi nancial future. Williams provides a tenpointplan to implement today--so another Lehmandoesn't collapse tomorrow.\u003c\/p\u003e\u003cp\u003e\u003cb\u003eIncludes aten-point plan toensure a strongfinancial future forboth Wall Street andMain Street\u003c\/b\u003e\u003c\/p\u003e\u003cbr\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAbout the Author\u003c\/b\u003e\u003cbr\u003e\u003cp\u003e\u003cb\u003eMark T. Williams\u003c\/b\u003e is a risk management practitioner and academic with two decades of experience. He has worked as a senior executive for major energy trading companies, a trust banker, and an examiner for the Federal Reserve Bank. Williams is currently on the fi nance and economics faculty at Boston University and serves as a senior advisor at the Brattle Group. He has been a guest columnist for Reuters.com, Forbes.com, and the \u003ci\u003eBoston Globe\u003c\/i\u003e.\u003cbr\u003e\u003c\/p\u003e","brand":"McGraw-Hill Companies","offers":[{"title":"Default Title","offer_id":50409614016786,"sku":"9780071638296","price":28.99,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0831\/4771\/8930\/files\/img_158d6b37-3486-4d71-ad46-c3a4e3fccdb1.jpg?v=1729291440","url":"https:\/\/surprise-castle.myshopify.com\/products\/uncontrolled-risk-lessons-of-lehman-brothers-and-how-systemic-risk-can-still-bring-down-the-world-financial-system-9780071638296","provider":"Surprise Castle","version":"1.0","type":"link"}