Uncontrolled Risk 失控风险

InthisdramaticandcompellingaccountofLehmanBrothers'spectacularriseandfall,authorMarkT.Williamsexplainshowuncontrolledrisktoppleda158-year-oldinstitution—andwhatitsaysaboutWallStreet,Washington,D.C.,andtheworldfinancialsystem.AformertradingfloorexecutiveandFedbankexaminer,WilliamsseesLehman's2008collapseasamicrocosmoftheindustry—aworst-casescenarioofsmartdecisions,stupidmistakes,ignoredwarnings,andimportantlessonsinmoney,power,andpolicythataffectusall.Thisbookreveals:TheCongressionalinquisitionofdisgracedCEODickFuld:Didhereallydeserveit?Howtheinvestment-bankingmoneymachinebrokedown:Canitbefixed?Thekeydriversthatcausedthefinancialmeltdown:Canlessonsbelearnedfromthem?ThewildrisktakingdenouncedbyPresidentObama:IsWashingtontoblame,too?Theongoingdebateonreformandregulation:Canmeaningfulreformavertanotherfinancialcatastrophe?ThisfascinatingaccounttracesLehman'shistoryfromitshumblebeginningsin1850toitscollapsein2008.Lehman'sstoryexemplifiestheeverchangingtrendsinfinance—frominvestmentvehiclestofederalpolicies—andexposesthedangerandinfectiousnatureofuncontrolledrisk.Drawinguponfirst-personinterviewswithriskmanagementexpertsandformerLehmanemployees,Williamsprovidesmorethanjustafrontlinereport:it'sacalltoactionforWallStreetbankers,Washingtonpolicymakers,andU.S.citizens—alivinglessoninriskmanagementonwhichtobuildastrongerfinancialfuture.Williamsprovidesatenpointplantoimplementtoday—soanotherLehmandoesn'tcollapsetomorrow.