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Lehman Brothers

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ISBN: 9781526100580 Year: Pages: 288 Language: English
Publisher: Manchester University Press
Subject: Business and Management --- Economics
Added to DOAB on : 2016-08-26 11:01:17
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Abstract

"On September 12th 2008, Lehman Brothers was valued at 639 billion US dollars. On Monday 15th September, it was worth nothing. How could trillions of dollars seemingly melt into air? Lehman Brothers had a long and prestigious history, and certainly until the end of 2007 had appeared to be conducting a very successful business. Its collapse was the largest bankruptcy in American history and is widely regarded as a crucial event in triggering the turmoil in the markets that triggered the global financial crisis. 

In this book, Oonagh McDonald, the author of Fannie Mae and Freddie Mac, unravels the events of that fateful September weekend. Using extensive documentary evidence and interviews with former Lehman employees, she reveals the decisions that led to Lehman's collapse, looks at why the government refused a bail-out and whether the implications of this refusal were fully understood. In clear and accessible language she demonstrates both the short and long term effects of Lehman's collapse. 

This is a fascinating story, with very wide implications. In particular, it raises vital questions about virtual capital and artificial value. McDonald uses her study of the Lehman collapse to examine what is meant by economic value and how it should be identified and measured."

A strained partnership?

Author:
ISBN: 9780719091759 9781526129383 Year: Language: English
Publisher: Manchester University Press Grant: Knowledge Unlatched - 100904
Subject: Political Science
Added to DOAB on : 2018-02-21 11:02:20
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This is the first monograph-length study that charts the coercive diplomacy of the administrations of Richard Nixon and Gerald Ford as practised against their British ally in order to persuade Edward Heath’s government to follow a more amenable course throughout the ‘Year of Europe’ and to convince Harold Wilson’s governments to lessen the severity of proposed defence cuts. Such diplomacy proved effective against Heath but rather less so against Wilson. It is argued that relations between the two sides were often strained, indeed, to the extent that the most ‘special’ elements of the relationship were suspended. Yet, the relationship also witnessed considerable co-operation. This book offers new perspectives on US and UK policy towards British membership of the European Economic Community; demonstrates how US détente policies created strain; reveals the temporary shutdown of US-UK intelligence and nuclear co-operation, and re-evaluates the US-UK relationship throughout the IMF Crisis.

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