In March 2008, Bear Stearns, a swashbuckling eighty-four-year-old financial institution, was forced to sell itself to JPMorgan Chase for an outrageously low price in a deal brokered by Treasury Secretary Henry Paulson, who was desperately trying to prevent the impending catastrophic market crash. But mere months before, an industry-wide boom had "the Bear" clocking a record high stock price. How did a giant investment bank with $18 billion in cash on hand disappear in a mere ten days? In this tour de force, Cohan provides a minute-by-minute account of the events that brought America's second Gilded Age to an end.
Filled with intimate portraits of the major players, high-end gossip, and smart financial analysis, "House of Cards" recounts in delicious narrative form the dramatic events behind the fall of Bear Stearns and what it revealed about the financial world's progression from irrational boom to cataclysmic bust. "House of Cards" is the Rosetta Stone for understanding the dramatic and the unprecedented events that have reshaped Wall Street and global finance in the past two years.
About the Author
William D. Cohan is the bestselling author of "Money and Power", "House of Cards", and "The Last Tycoons". He has appeared on "The Daily Show, Charlie Rose, CBS This Morning, ABC Evening News, Good Morning America", and more. He has also been featured on numerous NPR programs, including "Marketplace, Diane Rehm, Leonard Lopate, " and "Studio 360 with Kurt Anderson. "In addition to being media savvy, Cohan is himself a Duke alum who worked on Wall Street for seventeen years.
Alan Sklar is the winner of several "AudioFile" Earphones Awards and a multiple finalist for the APA's prestigious Audie Award. Named a Best Voice of 2009 by "AudioFile" magazine, his work has twice earned him a Booklist Editors' Choice Award, a "Publishers Weekly" Listen-Up Award, and Audiobook of the Year by "ForeWord" magazine.
"[A] fascinating tale." ---The Wall Street Journal