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, an investment banker on Wall Street for seventeen years, is the bestselling author of "The Last Tycoons," winner of the 2007 FT/Goldman Sachs Business Book of the Year Award.
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