Lawrence G. McDonald
Encyclopedia
Lawrence G. McDonald is a former vice-president at Lehman Brothers
and is currently managing director of Pangea Capital Management LP.
Henry Paulson
's decision to save Bear Stearns
while allowing Lehman Brothers to fail.
, McDonald gives his account of the events surrounding the financial crisis of 2007–2010. The book discusses JP Morgan Chase's purchase of Bear Stearns and the bankruptcy of Lehman Brothers
. The book was written with New York Times columnist Patrick Robinson.
As of September 25, 2009, the book was 33rd on the New York Times Best Seller list
for hardcover
nonfiction.
Lehman Brothers
Lehman Brothers Holdings Inc. was a global financial services firm. Before declaring bankruptcy in 2008, Lehman was the fourth largest investment bank in the USA , doing business in investment banking, equity and fixed-income sales and trading Lehman Brothers Holdings Inc. (former NYSE ticker...
and is currently managing director of Pangea Capital Management LP.
Financial crisis
In an editorial for the Huffington Post, McDonald was critical of former United States Secretary of the TreasuryUnited States Secretary of the Treasury
The Secretary of the Treasury of the United States is the head of the United States Department of the Treasury, which is concerned with financial and monetary matters, and, until 2003, also with some issues of national security and defense. This position in the Federal Government of the United...
Henry Paulson
Henry Paulson
Henry Merritt "Hank" Paulson, Jr. is an American banker who served as the 74th United States Secretary of the Treasury. He previously served as the Chairman and Chief Executive Officer of Goldman Sachs.-Early life and family:...
's decision to save Bear Stearns
Bear Stearns
The Bear Stearns Companies, Inc. based in New York City, was a global investment bank and securities trading and brokerage, until its sale to JPMorgan Chase in 2008 during the global financial crisis and recession...
while allowing Lehman Brothers to fail.
A Colossal Failure of Common Sense
In a book entitled A Colossal Failure of Common SenseA Colossal Failure of Common Sense
A Colossal Failure of Common Sense: The Inside Story of the Collapse of Lehman Brothers is a 2009 non-fiction book written by Lawrence G. McDonald and Patrick Robinson which chronicles the events surrounding the bankruptcy of Lehman Brothers in the context of the financial crisis of 2007–2010 and...
, McDonald gives his account of the events surrounding the financial crisis of 2007–2010. The book discusses JP Morgan Chase's purchase of Bear Stearns and the bankruptcy of Lehman Brothers
Bankruptcy of Lehman Brothers
Lehman Brothers filed for Chapter 11 bankruptcy protection on September 15, 2008. The bankruptcy of Lehman Brothers remains the largest bankruptcy filing in U.S...
. The book was written with New York Times columnist Patrick Robinson.
As of September 25, 2009, the book was 33rd on the New York Times Best Seller list
New York Times Best Seller list
The New York Times Best Seller list is widely considered the preeminent list of best-selling books in the United States. It is published weekly in The New York Times Book Review magazine, which is published in the Sunday edition of The New York Times and as a stand-alone publication...
for hardcover
Hardcover
A hardcover, hardback or hardbound is a book bound with rigid protective covers...
nonfiction.