Too Big to Fail

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…y often - if only because it wasn't the 'right thing to do'. a very good read for anyone who wants to get a good grasp of the timeline of all this is Aaron Ross Sorkin's Too Big To Fail . It's a rather fascinating expose into some of the inner meetings and conversations. the tl;dr of it: - everyone tried to buy/acquire/merge/whatever everyone else. Fuld literally tried to sell Lehman's to every single member of the big banks - this thing could have been solved a half dozen times if it weren't for something quite simple/trivial - it turns out that the UK Treasury eventually were the ones to crush the last minute save of Lehman's via Barclay's Capital. A deal was struck, ALL the big banks posted collateral to support Lehman's, and yet Darling at the British Treasury shut it down over a procedural issue in Barclays' company charter... (and, …

Too Big to Fail by Andrew Ross Sorkin - a great blow by blow account of the financial crisis shortly after the fall of Bear Stearns. A really amazing look at how decisions are made under extraordinary pressure. It is fast paced and reads almost like a movie.