The Devil's Casino. Friendship, Betrayal, and the High Stakes Games Played Inside Lehman Brothers

  • ID: 2326745
  • Book
  • 288 Pages
  • John Wiley and Sons Ltd
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PRAISE FOR THE DEVIL′S CASINO

"Readers of this remarkable tale do not stand outside looking in we are inside looking out . . . the stuff that makes novels come alive."
KEN AULETTA

"Ward carefully and skillfully tracks the last 25 or so years of [this] great, doomed enterprise, and her portrait of a business entity is often engaging, spicy, and amusing. The book also does a fine job of sketching several outlandishly banal individuals who rose to prominence in the firm and ultimately were responsible, each in a different way, for its demise."
The Washington Post

"What′s remarkable about this narrative is that Ward . . . humanize[s] many of the central figures involved in the rise and fall of one of Wall Street′s largest firms, offering profound insight into the titans of finance whose recklessness, greed, and competitiveness brought the U.S. economy to the brink of collapse. The story plays out like a Shakespearean tragedy in which the very principles upon which the firm was built prove to be its undoing. The Devil′s Casino offers a fascinating glimpse into the culture of one of the most powerful firms on Wall Street. One hopes that the history it chronicles will also serve as a cautionary tale for the financial industry′s still–uncertain future."
The Boston Globe

"A terrific tale of the weird and not–so–wonderful world of Lehman Brothers: the personalities, the bonuses, and, best of all, the backstabbing politics of the Louboutin–shod bankers′ WAGs. The now–vilified former CEO, Richard Fuld, is portrayed not just as the aggressive ′Gorilla′ of Wall Street lore but as a human sponge who absorbed the attributes of smarter colleagues to the point of stealing their entire personalities."
The Guardian

"Well researched, chatty, lively . . . As she charts the rivalries of life on Wall Street, Ward entertains with rich detail. The book skillfully depicts the lives lived in the background of great clashing events. And it also hints at what Wall Street has become since the crisis, at the apparent dominance of two survivors, Goldman Sachs and JPMorgan Chase."
The New York Times

"Vicky Ward serves up a book about an investment bank that is a spicy, dishy dish. . . . Ward builds a convincing case that duplicity and betrayal in the mid–′90s eventually led to the demise of Lehman Brothers."
Bloomberg BusinessWeek

"The Devil′s Casino has everything readers might want to know about the personal foibles and shopping habits of key Lehman leaders and their wives a fascinating read."
Financial Times

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Cast of Characters.

Prologue.

Part One: The Ponderosa Boys.

Chapter 1. A Long, Hot Summer.

Chapter 2. The Beginning.

Chapter 3. The Captain.

Chapter 4. The Take–Under .

Chapter 5. Slamex.

Chapter 6. The Phoenix Rises.

Chapter 7. Independence Day.

Chapter 8. The Stiletto.

Chapter 9. The Ides of March.

Chapter 10. Eulogies.

Part Two: The Echo Chamber.

Chapter 11. Russian Winter.

Chapter 12. Lehman s Desperate Housewives.

Chapter 13. The Young Lions.

Chapter 14. 9/11.

Chapter 15. No Ordinary Joe.

Chapter 16. The Talking Head.

Chapter 17. The Sacrificial Ram.

Chapter 18. Korea s Rising Sum.

Chapter 19. The Wart on the End of Lehman s Nose.

Chapter 20. Damned Flood?

Chapter 21. Closing the Books.

Epilogue.

A Note About the Sources.

Notes.

References.

Acknowledgments.

Index. 

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VICKY WARD has been a contributing editor to Vanity Fair since 2001, specializing in investigative reporting. She has profiled, among others, Jean–Marie Messier, Carly Fiorina, CIA agent Valerie Plame, businesswoman Louise MacBain, Morgan Stanley, the late Bruce Wasserstein, counterterrorism expert Richard Clarke, François Pinault, the Getty, the Guggenheim, Fairfield Greenwich Group (a Madoff feeder fund), Brooke Astor, and Kate Moss. Ward is a columnist for the Huffington Post and a former contributor to CNBC and Bloomberg TV. She was previously the executive editor of Talk magazine. Her work has appeared in the New York Times, the Financial Times, the London Times, and the Daily Telegraph. A native Briton, Ward was the runner–up for the Catherine Pakenham Award in 1994, Britain′s most prestigious award for young women writers. She holds a master′s degree in English literature from Cambridge University and has lived in New York City since 1997.

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