Well, further reading of the book, has changed my opinion about this book. Yes, initially the book followed a fixed pattern which meant the story moved much slower than I anticipated. But once most of the main characters in the story were described, the whole thing started moving at another pace.
If one is to assume that what written in the book is true, then one does feel bad for the Dick Fuld and Lehman Brothers. Just to make the point of "No more bailouts" clear they were allowed to fail, only to realize latter that there were no other ways to allow remaining institutions to survive without Government support (TARP). Also, one can observe that most of the important positions in the Fed/Treasury were held by former Goldman Sachs employees (Not that it gave Goldman some direct advantage in the rescue). The role of SEC was also disappointing with inability to crack down on the shorts when Lehman/AIG/Meryl stocks were bleeding.
All in all, a good book to read (especially for a SEBI employee ;))
If one is to assume that what written in the book is true, then one does feel bad for the Dick Fuld and Lehman Brothers. Just to make the point of "No more bailouts" clear they were allowed to fail, only to realize latter that there were no other ways to allow remaining institutions to survive without Government support (TARP). Also, one can observe that most of the important positions in the Fed/Treasury were held by former Goldman Sachs employees (Not that it gave Goldman some direct advantage in the rescue). The role of SEC was also disappointing with inability to crack down on the shorts when Lehman/AIG/Meryl stocks were bleeding.
All in all, a good book to read (especially for a SEBI employee ;))
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