Beschreibung House of Cards: How Wall Street`s Gamblers Broke Capitalism: The Fall of Bear Stearns and the Collapse of the Global Market. On the evening of March 16, 2008, Bear Stearns, a swashbuckling eighty-five-year-old institution in the financial world, sold itself for an outrageously low price to the $2 trillion global behemoth JP Morgan Chase. Bear Stearns no longer existed, and the calamitous financial meltdown of 2008 had begun. What went wrong? In "House of Cards", bestselling author and former investment banker William Cohan gives the reader a front-row seat at Wall Street's catastrophic unravelling at the seams, and the end of the Second Gilded Age on Wall Street. Through the prism of Bear Stearns, he shows how a combination of risky bets, corporate political infighting, lax government regulations and truly bad decision-making have wrought havoc on the world financial system. Cohan's minute-by-minute account of those ten days in March makes for breathless reading, as the bankers at Bear Stearns struggled to contain the cascading series of events that would doom the firm, as the US government and federal bank began to realize the dire consequences for the world economy should the company go bankrupt. But "House of Cards" does more than recount the incredible panic of the first stages of the financial meltdown. William D. Cohan beautifully demonstrates why the seemingly invincible Wall Street money machine came crashing down. He chronicles the swashbuckling corporate culture of Bear Stearns, the strangely crucial role competitive bridge played in the company's fortunes, the brutal internecine battles for power, and the deadly combination of greed and inattention that helps to explain why the company's leaders ignored the danger lurking in Bear's huge positions in mortgage-backed securities. Full of insider knowledge and larger-than-life characters, such as Ace Greenberg, Bear Stearns' miserly, take-no-prisoners chairman and his profane, colorful rival Jimmy Cayne, whose world-champion-level bridge skills were a lever in his corporate rise and the firm's demise; and Jamie Dimon, the blunt-talking CEO of JPMorgan Chase, who won in the end, House of Cards is a shocking tale of greed, arrogance and stupidity in the financial world, and the consequences for all of us.
House of Cards: How Wall Street`s Gamblers Broke ~ House of Cards: How Wall Street`s Gamblers Broke Capitalism: The Fall of Bear Stearns and the Collapse of the Global Market / Cohan, William D. / ISBN: 9781846141959 / Kostenloser Versand für alle Bücher mit Versand und Verkauf duch .
House of Cards: How Wall Street's Gamblers Broke ~ From the author of The Last Tycoons, William D. Cohan's international bestseller House of Cards: How Wall Street's Gamblers Broke Capitalism dissects the collapse of Bear Stearns and the beginning of the financial crisis.. It was Wall Street's toughest investment bank, taking risks where others feared to tread, run by testosterone-fuelled gamblers who hung a sign saying 'let's make nothing but .
House of Cards: How Wall Street's Gamblers Broke ~ In House of Cards bestselling author and former investment banker William Cohan gives the reader a front-row seat at Wall Street's catastrophic unravelling at the seams, and the end of the Second Gilded Age on Wall Street. Through the prism of Bear Stearns, he shows how a combination of risky bets, corporate political infighting, lax government regulations and truly bad decision-making have .
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US Government Financial Bailouts - Investopedia ~ Bear Stearns . Founded in 1923, Bear Stearns flourished through the stock market crash of 1929 and the Great Depression. Yet the subprime mortgage disaster of 2007-2008 caused the giant investment .
The 2008 Crash: What Happened to All That Money? - HISTORY ~ In March 2008, the investment bank Bear Stearns began to go under, so the U.S. treasury and the Federal Reserve system brokered, and partly financed, a deal for its acquisition by JPMorgan Chase .
Bear Stearns Definition ~ Earning The Points: A currency trading term that describes when the forward ask price is lower than the spot bid price, resulting in a gain for the trader. A trader is gaining the points when he .
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Did the repeal of the Glass-Steagall Act contribute to the ~ Despite its tendency to be scapegoated, the repeal of the Glass-Steagall Act was, at most, a minor contributor to the financial crisis.At the heart of the 2008 crisis was nearly $5 trillion worth .
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2008 Financial Crisis: Causes, Costs, Could It Reoccur ~ The 2008 financial crisis timeline began in March 2008, when investors sold off their shares of investment bank Bear Stearns because it had too many of the toxic assets. Bear approached JP Morgan Chase to bail it out, but the Fed had to sweeten the deal with a $30 billion guarantee. The situation on Wall Street deteriorated throughout the summer of 2008.
The 2007-08 Financial Crisis in Review ~ March 2008: The Demise of Bear Stearns . By the winter of 2008, the U.S. economy was in a full-blown recession and, as financial institutions' liquidity struggles continued, global stock markets .
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The House of Dimon: How JPMorgan's Jamie Dimon Rose to the ~ It suggests that the reason why JP Morgan increased it offer for Bear Stearns from $2 to $10 was simply to keep the shareholders happy but another book I read on the demise of Bear Stearns House of Cards: How Wall Street's Gamblers Broke Capitalism: The Fall of Bear Stearns and the Collapse of the Global Market suggests that the reason was .
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Financial crisis of 2007–2008 - Wikipedia ~ The financial crisis of 2007–2008, also known as the global financial crisis (GFC), was a severe worldwide financial crisis.Excessive risk-taking by banks combined with the bursting of the United States housing bubble caused the values of securities tied to U.S. real estate to plummet, damaging financial institutions globally, culminating with the bankruptcy of Lehman Brothers on September .
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stock-channel - Das Finanzportal - Now this has to be ~ The Bush cabinet is taking the opportunity of the Bear Stearns collapse to quickly bring this forward under the title "Financial Stability Act" in much the same way they were able to quickly bring out the "Patriot Act" after the 911 tragedy. The next Presidential Administration will have to live with the problems created by eight years of Bush mismanagement. It would be better to leave .