The Man Who Crashed the World

Discussion in 'Wall St. News' started by Pekelo, Jul 7, 2009.

  1. Pekelo


    Almost a year after A.I.G.’s collapse, despite a tidal wave of outrage, there still has been no clear explanation of what toppled the insurance giant. The author decides to ask the people involved—the silent, shell-shocked traders of the A.I.G. Financial Products unit—and finds that the story may have a villain, whose reign of terror over 400 employees brought the company, the U.S. economy, and the global financial system to their knees.

    Michael Lewis
    August 2009
  2. Thanks for posting that. I like Lewis.
  3. terrible article, and im generally a lewis fan.

    2 thumbs down from the surf shack.
  4. Eight


    Contentless article, Lewis will do a lot better than that if he makes a book out of it...

    Otherwise sane seeming people will do ANYTHING if there is a bonus in it for them oftentimes... I didn't comprehend what garbage some people were until I saw the HMO world from inside.. doctors would turn away patients that could die, to enhance their bonuses... and sometimes insult them on the way out the door...
  5. Did you even read the article?

    It clearly states that Cassano had all but a couple million dollars of his vast fortune invested in AIG. Cassano had no incentive to see AIG shareholder value destroyed. He just screwed up and was an idiot.
  6. Reading about Cassano, I seem to recall he has the same personality as Glucksman at Lehman (going back in time here). Maybe every decade or so the same personalities rise to the top.

    Sptizer gets rid of Greenberg, this didn't seem to be a good idea in retrospect and currently spitzer has left Albany with a real putzorino for a governor.

    I'm starting a new book "Fool's Gold". looks interesting from the Morgan perspective.