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Thursday, June 24, 2010

New York Times Literary Treat of the Week......


Ward, Vicky. The Devil's Casino: Friendship, Betrayal and the High Stakes Games Played Inside Lehman Brothers.

The aftermath to the collapse of the 158-year-old Wall Street firm is still being played out in today's headlines nearly two years after the event. Ward, a Vanity Fair contributing editor and CNBC commentator, provides perspective going back over a quarter-century to chronicle what led to this fallout. She is able to do so in a fast-moving 270 pages due to choosing not to explain the global banking collapse but instead tell about the Lehman executives who contributed to it. Chief executive Richard Fuld is depicted as creating an environment addicted to money. Second in command T. Christopher Petit tried to turn the destructive tide but also fell prey to the lure of success before dying in 1997. Many in "The Devil's Casino" are pictured as deniers of coming realities which are still coming to light on the evening news.


Reviewed by:Librarian,Bob

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