Uncontrolled Risk: Lessons of Lehman Brothers and How Systemic Risk Can Still Bring Down the World Financial System

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  • Edition: 1st
  • Format: Hardcover
  • Copyright: 2010-04-12
  • Publisher: McGraw-Hill Education
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Why was Lehman ignored when everyone else was bailed out?A risk advisor for top financial institutions and top B-school professor, Mark Williamsexplains how uncontrolled risk toppled a 158-year-old institution, using this story as amicrocosm to illuminate the interconnection of the global financial system, as well asbroader policy implications.This story is told through the eyes of an experienced risk manager and educator in adetailed and engaging way and provides the reader with a complete summary of how asavvy company with sophisticated employees and systems could have gotten it sowrong.

Author Biography

Mark Williamsis a well-recognized risk managementexpert and consultant in thefields of banking and commodities.He has worked as a senior executivefor a number of globalcompanies and as an examiner forthe Federal Reserve. He serves onthe finance and economics facultyat Boston University.

Table of Contents

Acknowledgmentsp. vii
The Inquisitionp. 1
From Humble Roots to Wall Street Contenderp. 9
From Private to Publicp. 23
History of Investment Bankingp. 31
How the Investment Banking Money Machine Worksp. 45
The Roller-Coaster 1980sp. 57
The 1990s: Rebuilding Yearsp. 67
Lehman's Near-Death Experiencep. 77
Innovation, Imitation, and Increased Riskp. 91
Lehman's Risk Managementp. 105
The Real Estate Bet and the Race to the Bottomp. 117
The Bear Maulingp. 137
Time Runs Outp. 149
The Death of Lehman, Regulation, and Investment Bankingp. 165
The Enablers and the Decidersp. 185
Epilogue: The Post-Lehman Financial Landscapep. 211
Appendix; Lehman Chronology, 1845-2010p. 221
Notesp. 231
Indexp. 241
Table of Contents provided by Ingram. All Rights Reserved.

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