The Great Hangover: 21 Tales of the New Recession from the Pages of Vanity Fair

by Graydon Carter (Editor)

Overview

Vanity Fair presents 21 true stories of the new hard times

Where did all the billions go?

Commissioned by the editors at Vanity Fair magazine, The Great Hangover is an eye-opening collection of essays on the global economic crisis by fifteen of the most respected contemporary business writers in America, including:

Bryan Burrough (Barbarians at the Gate) on the atmosphere of uncertainty and fear that preceded the demise of Bear Stearns . . .

Michael Lewis (Liar's Poker) on Iceland's bizarre national implosion . . .

Mark Bowden (Black Hawk Down) on the decline of The New York Times and the threat to the ailing newspaper industry . . .

Mark Seal on the defining figure of the seriously tarnished New Gilded Age: the Grand Master of Greed, Bernie Madoff . . .

Along with compelling and sometimes hair-raising pieces from a dozen other Vanity Fair contributors on the recent recession's myriad villains and victims—and the worldwide impact of the financial downturn.

Product Details

ISBN-13:	9780062023650
Publisher:	HarperCollins Publishers
Publication date:	12/15/2023
Sold by:	Barnes & Noble
Format:	eBook
Pages:	482
Sales rank:	624,647
File size:	607 KB

Table of Contents

Where Did All the Billions Go? Cullen Murphy ix

Part 1 Wall Street

1 Bringing Down Bear Stearns Bryan Burrough 3

2 Profiles in Panic: Wall Street High Society in Free Fall Michael Shnayerson 29

3 Wall Street Lays Another Egg: Derivatives and Mathematical Models Niall Ferguson 49

4 Over the Hedge Bethany McLean 75

5 Wall Street's $18.4 Billion Bonus Michael Shnayerson 91

6 The Man Who Crashed the World: Joe Cassano and A.I.G. Michael Lewis 105

Part 2 Washington

7 Good Billions After Bad: The Bailout Money Donald L. Barlett James B. Steele 129

8 Capitalist Fools: Five Key Mistakes That Led Us to the Collapse Joseph E. Stiglitz 145

9 Fannie Mae's Last Stand Bethany McLean 153

10 Henry Paulson's Longest Night Todd S. Purdum 181

Part 3 Beyond

11 Wall Street on the Tundra: The Implosion of Iceland's Economy Michael Lewis 203

12 Rich Harvard, Poor Harvard Nina Munk 229

13 Pirate of the Caribbean: The Mystery of Allen Stanford Bryan Burrough 251

14 The Inheritance: Arthur Sulzberger Jr. and the Decline of the Newspaper Business Mark Bowden 275

15 Marc Dreier's Crime of Destiny Bryan Burrough 303

16 Wall Street's Toxic Message: Global Consequences of the Meltdown Joseph E. Stiglitz 327

Part 4 The Madoff Chronicles

17 Part I: Madoff's World Mark Seal 337

18 Part II: “Hello, Madoff!”-What the Secretary Saw Mark Seal Eleanor Squillari 367

19 Part III: Did the Sons Know? David Margolick 397

20 Part IV: Ruth's World Mark Seal 413

21 Part V: Greenwich Mean Time-The Noel Family Vicky Ward 437

Afterword: The Blame

The 100 People, Companies, Institutions, and Vices to Blame for Getting Us into this Mess Bruce Feirstein 453

Author Biographies 457

Acknowledgments 463