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S'està carregant… The Lost Bank: The Story of Washington Mutual-The Biggest Bank Failure in American History (edició 2013)de Kirsten Grind (Autor)
Informació de l'obraThe Lost Bank: The Story of Washington Mutual-The Biggest Bank Failure in American History de Kirsten Grind
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Apunta't a LibraryThing per saber si aquest llibre et pot agradar. No hi ha cap discussió a Converses sobre aquesta obra. Very well-written narrative of the history of WaMu and other players (regulators, banks, etc.) in the 2008 mortgage debacle. (For those who forget, WaMu was the largest bank until it gained the title of the largest bank failure.) ( ) Not a particularly spectacular or deep book, but a decent overview of the collapse of the Washington Mutual Bank in September, 2008. The author does a decent job of going through the history of the institution, and pointing out where management errors were made. The long-time head of the bank, a fellow named Killinger, comes out very poorly, indeed, a model of mismanagement at the highest level. (Killinger, according to Wikipedia, challenged the description of him in an open letter.) A lot of anecdotes strung together (including the requisite poor folks in grotty suburb of LA), but given the relative simplicity of the factors that led to WaMu's collapse, there's not much to say. This is a great book for the first 75% where the reporting is detailed, insightful and clearly with inside the bank knowledge. But once we get to 2008, the details become lighter and the specific dynamics of board room negotiations I totally lacking. The author has a great pulse on what happened in Seattle and at WaMu but no insider status in washington or new York. A good read and history of WaMu but the last part of the book is thin and disappointing. Sense ressenyes | afegeix-hi una ressenya
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Business.
Nonfiction.
HTML: During the most dizzying days of the financial crisis, Washington Mutual, a bank with hundreds of billions of dollars in its coffers, suffered a crippling bank run. The story of its final, brutal collapse in the autumn of 2008, and its controversial sale to JPMorgan Chase, is an astonishing account of how one bank lost itself to greed and mismanagement and how the entire financial industryâ??and even the entire countryâ??lost its way as well. Kirsten Grind's The Lost Bank is a magisterial and gripping account of these events, tracing the cultural shifts, the cockamamie financial engineering, and the hubris and avarice that made this incredible story possible. The men and women who become the central players in this tragedyâ??the regulators and the bankers, the home buyers and the lenders, the number crunchers and the shareholdersâ??are heroes and villains, perpetrators and victims, often switching roles with one another as the drama unfolds. Reporting for the Puget Sound Business Journal, Grind covered the story from the beginning. It was a story set far from the epicenters of finance and media, happening largely in places such as the suburban homes of central California and the office buildings of Seattle, but the clarity and depth of Grind's work earned her many awards, including being named a finalist for the Pulitzer Prize and the Gerald Loeb Award. She takes readers into boardrooms and bedrooms, revealing the power struggles that pitted regulators at the Office of Thrift Supervision and the FDIC against one another and the predatory negotiations of investment bankers and lawyers who enriched themselves during the bank's rise and then devoured the decimated bank in its final days. Written as compellingly as the finest fiction, The Lost Bank makes it clear that the collapse of Washington Mutual was not just the largest bank failure in American history. It is a story of talismanic qualities, reflecting the incredible rise and the precipitous collapse of not only an institution but of trust, fortunes, and the marketplaces for risk across the No s'han trobat descripcions de biblioteca. |
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