Word: lehman
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Dates: during 2000-2009
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...already know how things turned out. The Sellout traces the arc of Wall Street's ultimate blowup, from the risk-taking free-for-all that began in the late 1970s through the emergence of complex mortgage-backed securities (which Gasparino labels a "financial cancer") to angry laid-off Lehman Brothers employees packing up their desks a year...
Gasparino is one of the Street's war correspondents and at his best when describing the fall of Lehman. It's the key battle, in a sense, since Lehman was a major force behind the subprime-mortgage bonds that were the culprits in the collapse. Gasparino is particularly good at capturing--via the profane, telling quote--the high-noon drama of the meltdown. When Morgan Stanley CEO John Mack tells Lehman boss Dick Fuld, "There are rumors that you guys are in trouble," Fuld, the "Gorilla of Wall Street," answers with tough-guy bravado, "It's bullshit." Lehman's stock...
Shoppers may not jump at the early discounts. Many consumers are still in a frugal mind frame and can easily recall how retailers slashed prices up to 85% last November and December to unload huge inventories. At that time, shell-shocked retailers, rattled by the collapse of Lehman Brothers, the crisis at AIG and upheaval in the credit markets, pushed the panic button...
...Shut up! He said what?" - On hearing John McCain observe that "the fundamentals of the economy are strong" on Sept. 15, 2008 - the day Lehman Brothers collapsed. (New York Times...
Tachibana and Lehman beat a team from Brown, 9-7, and a team from Cornell, 8-1. The two fell, 8-6, to a tandem from...