Book Review: House of Cards
Saturday, March 28, 2009 at 03:06PM On the suggestion of a colleague, I picked up Wiilliam Cohan's House of Cards, a narrative style recounting of the collapse of Bear Sterns.
Go pick it up today. It's brilliantly done, weaving together insider information, public documents, and original interviews, with brisk writing and insightful commentary to make a very complicated subject spring to life.
Even if you're not particularly interested in the collapse of one of Wall Street's most prominent franchises, it has more intrigue, back-biting, and boorish behavior than an episode of Melrose Place.*
It also offers a great window into our current economic situation. Many of the forces that torpedoed Bear -- over leverage, faulty risk management, arrogant personalities -- have brought our entire financial system to its knees. For me, it certainly put the Stewart-Cramer spat into even greater context. It's hard not go get your blood in a boil after reading how these institutions put our entire economy at risk in their manic pursuit of short term gain.
* I don't care if a Melrose Place reference is dated. It's my blog, so stuff it.
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