Customer Reviews

Greed and Glory on Wall Street: The Fall of the House of Lehman

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4 star:		(1)
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2 star:		(1)
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This is a classic tale of a company run into the ground because it had two CEOs and two different departments fighting one another for the juicy bonuses. Moreover, the CEOs had totally different characters and a completely different business vision. One was extrovert, overambitious, jealous, profoundly selfish, impulsive, volatile, dominated by lust for power, vindictive, an intriguer. The other was rather introvert, cold, too trusting, apersonal, a bad communicator, self-centered, rather an intellectual aristocrat.

The introvert was ousted by the extrovert, who wanted to run his own show.

The house of Lehman was divided in two different clans: the bankers who were rather fixed on medium and long term business with stable clients and the traders who were only fixed on the short term.
While the introvert CEO could stand above both business divisions in the battle for the bonuses, the extrovert was himself a trader and was rather despised by the bankers. When the latter took the rein, key banking personal left the company. The traders wanted to cash in their shares as quickly as possible and the company was gobbled up by a third party.

This story shows also that `human relations matter as much as the bottom-line.'

A very worth-while read.

This story of greed and glory is one that has been acted out in all types of businesses - large or small, service or product, new or old. It is a parable of overinflated egos, hyperpolitical environments and the inability of individuals to see their limits when blinded by the light of self-glorification. It is essential reading for anyone in a shared leadership role - partners, executives in tightly run corporations, etc. - and is most valuable for the lessons people should learn about themselves through Lehman's demise.

I read it when it came out and the culture that was left to American Express (bought Lehman back then) couldn't change so much as to be fulll of honest people. The ones who continue learn the tricks of the trade and bad ethics from their masters before the sale to AE.

This book is one of my favorites. It's a classic soap opera. What Lehman Brothers was, their glory days, how egos and greed destroy companies. This is a brilliant study of humanity on Wall Street. Fast read and I strongly recommend to anyone who's thinking of getting into the business!

reads like a greek tragedy; rich treatment of the people involved in one of the most important, and most interesting, financial events of the 80s. ranks as one of the most finely crafted books of its type in business; it gives the reader a deep look inside a complicated world and shows us the role of interpersonal relationships in business decision making.

This book was relatively boring compared to many other business books. To much detail was given to mundane topics. Not a mentally stimulating book by any means.