The Devil's Casino: Friendship, Betrayal, and the High Stakes Games Played Inside Lehman Brothers

The Devil's Casino: Friendship, Betrayal, and the High Stakes Games Played Inside Lehman Brothers

by Vicky Ward

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Overview

The Devil's Casino: Friendship, Betrayal, and the High Stakes Games Played Inside Lehman Brothers by Vicky Ward

The inside story of what really happened at Lehman Brothers andwhy it failed

In The Devil's Casino: Friendship, Betrayal, and the High StakesGames Played Inside Lehman Brothers, investigative writer andVanity Fair contributing editor Vicky Ward takes readers insideLehman's highly charged offices. What Ward uncovers is a muchbigger story than Lehman losing at the risky game of collateralizeddebt obligations, swaps, and leverage.

A can't put it down page turner that opens the world of WallStreet to view unlike any book since Bonfire of the Vanities,except that The Devil's Casino isn't fiction.

  • Details what went on behind-the-scenes the weekend LehmanBrothers failed, as well as inside Lehman during the twenty yearspreceding it
  • Describes the feudal culture that proved both Lehman's strengthand its Achilles' heel
  • Written by Vicky Ward, one of today's most connected businessand finance writers

On Wall Street, Lehman Brothers was cheekily known as "the catwith nine lives." But as The Devil's Casino documents, this catpushed its luck too far and died-the victim of men and womenblinded by arrogance.

Product Details

ISBN-13: 9781118011492
Publisher: Wiley
Publication date: 04/05/2011
Edition description: Reprint
Pages: 288
Sales rank: 985,466
Product dimensions: 5.60(w) x 8.60(h) x 0.60(d)

About the Author

VICKY WARD has been a contributing editor to Vanity Fair since 2001, specializing in investigative reporting. She has profiled, among others, Jean-Marie Messier, Carly Fiorina, CIA agent Valerie Plame, businesswoman Louise MacBain, Morgan Stanley, the late Bruce Wasserstein, counterterrorism expert Richard Clarke, François Pinault, the Getty, the Guggenheim, Fairfield Greenwich Group (a Madoff feeder fund), Brooke Astor, and Kate Moss. Ward is a columnist for the Huffington Post and a former contributor to CNBC and Bloomberg TV. She was previously the executive editor of Talk magazine. Her work has appeared in the New York Times, the Financial Times, the London Times, and the Daily Telegraph. A native Briton, Ward was the runner-up for the Catherine Pakenham Award in 1994, Britain's most prestigious award for young women writers. She holds a master's degree in English literature from Cambridge University and has lived in New York City since 1997.

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Table of Contents

Cast of Characters.

Prologue.

Part One: The Ponderosa Boys.

Chapter 1. A Long, Hot Summer.

Chapter 2. The Beginning.

Chapter 3. The Captain.

Chapter 4. The “Take-Under”.

Chapter 5. Slamex.

Chapter 6. The Phoenix Rises.

Chapter 7. Independence Day.

Chapter 8. The Stiletto.

Chapter 9. The Ides of March.

Chapter 10. Eulogies.

Part Two: The Echo Chamber.

Chapter 11. Russian Winter.

Chapter 12. Lehman’s Desperate Housewives.

Chapter 13. The Young Lions.

Chapter 14. 9/11.

Chapter 15. No Ordinary Joe.

Chapter 16. The Talking Head.

Chapter 17. The Sacrificial Ram.

Chapter 18. Korea’s Rising Sum.

Chapter 19. The Wart on the End of Lehman’s Nose.

Chapter 20. Damned Flood?

Chapter 21. Closing the Books.

Epilogue.

A Note About the Sources.

Notes.

References.

Acknowledgments.

Index. 

What People are Saying About This

From the Publisher

"There is more juicy, salacious, icky stuff in this book than youcan put in five books . . I kind of like all the icky stuff in it .. . all of the stuff going on with the wives and that. And sex anddrugs. . . I'm begging you to read this. It reads like anintellectual Jackie Collins novel."
Don Imus

“The really juicy details behind the Lehman Bros.collapse. Behind-the-scenes account skips geeky economic discourseto examine the underlying history of backstabbing and greed thathelped bring down the investment bank. It is not often that a bookon the financial crisis makes you want to get a big bowl ofpopcorn. But Vicky Ward's page-turning yarn about Lehman Bros., thefailed investment bank, is the closest thing to a bodice-ripperthat the 2008 meltdown is likely to produce. . . . Ward writesabout helicopter rides and corporate jets, multimillion-dollar artcollections and constant backbiting. . . But for all the book'sapparent fluffiness, Ward hones in on Lehman's central problemsbetter than even she could have known. In a series of incidentsstretching back decades, she shows how Lehman's traders routinelyhid the riskiness of their trades from senior managers and thepublic. . . To Ward, the rest of the tale is an unstoppableoperatic tragedy, albeit one that took 12 years to play out. But itis chock-full of designer clothes and fancy yachts that make for afascinating read.”
Los Angeles Times

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Devil's Casino: Friendship, Betrayal, and the High Stakes Games Played Inside Lehman Brothers 3.8 out of 5 based on 0 ratings. 28 reviews.
RonnyRS More than 1 year ago
While the opposite of A Colossal Failure of Common Sense, the book does provide a credible overview of the end of Lehman and offers a varied perspective of how events transpired.
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bookjunkieRW More than 1 year ago
i purchased this book for my mom. she whipped thru it in one day. she said she learn alot about wall street and what goes on behind the scenes of finance. she highly recomends it and i will be reading next as soon as she sends it to me
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