Fatal Risk (eBook)
368 Seiten
John Wiley & Sons (Verlag)
978-1-118-08427-4 (ISBN)
Year Award 2011
The true story of how risk destroys, as told through the
ongoing saga of AIG
From the collapse of Bear Stearns and Lehman Brothers, the
subject of the financial crisis has been well covered. However, the
story central to the crisis-that of AIG-has until now remained
largely untold. Fatal Risk: A Cautionary Tale of AIG's Corporate
Suicide tells the inside story of what really went on inside
AIG that caused it to choke on risk and nearly brining down the
entire economic system. The book
* Reveals inside information available nowhere else, including
the personal notes and records of key players such as the former
Chairman of AIG, Hank Greenberg
* Takes readers behind the scenes at the U.S. Treasury and the
Federal Reserve Bank of New York
* Details how an understanding of risk built AIG, but a disdain
for government regulators led to a run-in with New York State
Attorney General Eliot Spitzer
Fatal Risk is the comprehensive and compelling true story
of the company at the center of the financial storm and how it
nearly caused the entire economic system to collapse.
Roddy Boyd is an investigative reporter who has been uncovering financial market shenanigans for more than a decade. Most recently at Fortune magazine, he also worked at the New York Post's business desk, the New York Sun and Institutional Investor News, and has written for Slate's "The Big Money." In addition to founding the financial investigative reporting website TheFinancialInvestigator.com, he has worked on both the buy- and sell-sides of Wall Street.
Cast of Characters ix
Introduction 1
Chapter 1 The (Noncorrelated) Dream Team 7
Chapter 2 Who Dares, Wins 31
Chapter 3 The Man with the Plan 47
Chapter 4 Changes 77
Chapter 5 The Dirt Below 99
Chapter 6 War by Another Name 121
Chapter 7 The Kids Are Alright 149
Chapter 8 In the Shipping Business 181
Chapter 9 The Preservation Instinct 203
Chapter 10 The Down Staircase 235
Chapter 11 Midnight in September 251
Epilogue 291
Notes 313
Acknowledgments 335
Index 343
Fatal Risk: A Cautionary Tale of AIG's Corporate Suicideby Roddy Boyd has been longlisted for The FT & GoldmanSachs Business Book Of The Year Award 2011
Members of the seven strong judging panel will decide on ashortlist of up to six finalists in the middle ofSeptember.
'If there is a theme that links most of the 14 titleson the longlist..it is their authors' quest to work out howand why companies, governments and their leaders fail - andhow not to go wrong in the future'
"A vivid portrait of the giant insurer at the center of the 2008financial crisis."
(The Wall Street Journal)
"The best book of the crisis is Fatal Risk. This is a fabulousbook - but it deals with complex subjects without shying away fromtheir complexity and it assumes you have enough knowledge andintelligence to cope. . . This is the best book yet written aboutany specific episode of the crisis. Buy multiple copies. Give themto your friends. They will be grateful too."
(Bronte Capital)
"A sober work that appears to have been researched extremelythoroughly. . . more convincing on the mechanics of AIG's Suicidethan it is on any of the deeper motivations."
(The Financial Times)
"Through superb reporting, Boyd has written one of the financialcrisis genre's most important works."
(Bloomberg BusinessWeek)
"As Roddy Boyd demonstrates in his well-written study of AIG'sfall, it was the very solidity of the company's credit rating thatled it astray. Painstakingly built over the course of 40 years byan army veteran, Hank Greenberg, AIG was the ideal counterparty forWall Street. . . For some, the demise of AIG was not the suicidedescribed in the book's title, but an act of murder by Goldman. MrBoyd argues that the investment bank was acting only as any prudentcounterparty would. But the author's analysis is unlikely to dentthe conviction of conspiracy theorists that AIG was rescued by HankPaulson, the former Goldman chief executive turned treasurysecretary, to prop up Goldman." (The Economist)
"Engaging and balanced account . . . Many books on the financialmeltdown that began in 2007 treat AIG as a plot point in a widerdrama. Yet valuable lessons can be gleaned from the narroweraccount that Boyd lays out here -- lessons about theresponsibilities of leaders and regulators as well as the hazardsof financial engineering. . . The story of AIG's demise has manymoving pieces, large and small, which Boyd meshes into a smoothnarrative. . . Boyd is good with dialogue and knows how to keep thestory going. His reporting is thorough and fair, even when it comesto Timothy F. Geithner's risible assertions that it wasn't theFederal Reserve's job to pop bubbles."
(Bloomberg)
The best book on the financial crisis, and . . . favorite pieceof non-fiction work since Michael Lewis' The Big Short. . . Thereporting here is incredible."
(Distressed Debt Investing)
"A 10 best finance book.
Does the ongoing financial turmoil leave you scratching your head?Worry not, here's our pick of the finest - and most readable -books about Big Money..."
(The Independent)
'Fatal Risk is must reading for market insiders, investors,business leaders, and anyone who's wondered what really happened in2008.' (Hereisthecity.com, April 2011).
'researched extremely thoroughly' (Financial Times,April 2011).
'...a vivid portrait of the giant -insurer at thecenter of the 2008 financial crisis.' (Wall Street JournalEurope, April 2011).
'A cautionary tale of corporate hubris.' (EthicalCorporation Magazine, May 2011).
'...Boyd is good with dialogue and knows how to keepthe story going'. (Bloomberg.com, June2011).
Erscheint lt. Verlag | 3.3.2011 |
---|---|
Sprache | englisch |
Themenwelt | Recht / Steuern ► Wirtschaftsrecht |
Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung | |
Betriebswirtschaft / Management ► Spezielle Betriebswirtschaftslehre ► Versicherungsbetriebslehre | |
Schlagworte | Business & Management • Wirtschaft • Wirtschaft u. Management |
ISBN-10 | 1-118-08427-6 / 1118084276 |
ISBN-13 | 978-1-118-08427-4 / 9781118084274 |
Haben Sie eine Frage zum Produkt? |
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eReader: Dieses eBook kann mit (fast) allen eBook-Readern gelesen werden. Mit dem amazon-Kindle ist es aber nicht kompatibel.
Smartphone/Tablet: Egal ob Apple oder Android, dieses eBook können Sie lesen. Sie benötigen eine
Geräteliste und zusätzliche Hinweise
Buying eBooks from abroad
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