The Devil's Casino


Book Description

The inside story of what really happened at Lehman Brothers and why it failed In The Devil's Casino: Friendship, Betrayal, and the High Stakes Games Played Inside Lehman Brothers, investigative writer and Vanity Fair contributing editor Vicky Ward takes readers inside Lehman's highly charged offices. What Ward uncovers is a much bigger story than Lehman losing at the risky game of collateralized debt obligations, swaps, and leverage. A can't put it down page turner that opens the world of Wall Street to view unlike any book since Bonfire of the Vanities, except that The Devil's Casino isn't fiction. Details what went on behind-the-scenes the weekend Lehman Brothers failed, as well as inside Lehman during the twenty years preceding it Describes the feudal culture that proved both Lehman's strength and its Achilles' heel Written by Vicky Ward, one of today's most connected business and finance writers On Wall Street, Lehman Brothers was cheekily known as "the cat with nine lives." But as The Devil's Casino documents, this cat pushed its luck too far and died?the victim of men and women blinded by arrogance.




Summary of Vicky Ward's The Devil's Casino


Book Description

Please note: This is a companion version & not the original book. Sample Book Insights: #1 On June 7, 2008, George Herbert Walker, a 39-year-old second cousin of then President George W. Bush, and head of Lehman's Investment Management division, was celebrating his marriage to Nancy Dorn, a 31-year-old hedge fund analyst from Texas. The couple had exchanged their vows at New York's City Hall a few weeks earlier. #2 The party was held to celebrate the wedding of George Walker and Nancy Dorn. It was clear that most of the executives at the party were stressed about the company's financial situation. #3 Lehman was founded in 1850 by three cotton trader brothers. The firm expanded after World War II, and under the reign of Bobbie Lehman, who had a Rolodex bursting with names like Whitney, Harriman, and most of the rest of New York's ruling class, it became the gentleman's banking house. #4 After Lehman, the reputation of the firm was still intact. The partners were all rich. In 2007, Fuld was named CEO of the Year by Institutional Investor magazine in the Brokers and Asset Managers category.




The Devil's Casino


Book Description

The inside story of what really happened at Lehman Brothers and why it failed In The Devil's Casino: Friendship, Betrayal, and the High Stakes Games Played Inside Lehman Brothers, investigative writer and Vanity Fair contributing editor Vicky Ward takes readers inside Lehman's highly charged offices. What Ward uncovers is a much bigger story than Lehman losing at the risky game of collateralized debt obligations, swaps, and leverage. A can't put it down page turner that opens the world of Wall Street to view unlike any book since Bonfire of the Vanities, except that The Devil's Casino isn't fiction. Details what went on behind-the-scenes the weekend Lehman Brothers failed, as well as inside Lehman during the twenty years preceding it Describes the feudal culture that proved both Lehman's strength and its Achilles' heel Written by Vicky Ward, one of today's most connected business and finance writers On Wall Street, Lehman Brothers was cheekily known as "the cat with nine lives." But as The Devil's Casino documents, this cat pushed its luck too far and died?the victim of men and women blinded by arrogance.




Pathways to Excessive Gambling


Book Description

Pathways to Excessive Gambling draws upon extensive empirical research amongst young people and problem gamblers in Australia, comparing it with situations in other territories, to shed light on social, recreational gambling and the ways in which this can lead to excessive gambling. It highlights the relationship between the local community, sports clubs, governments, social recreation, economy and regulation of gambling venues, identifying the social indicators that typify situations which commonly lead to excessive gambling. By developing a 'society-based' perspective, this volume recognizes problem gambling as an issue for the whole society rather than just the individual, focusing on the availability of gambling and identifying its capacity, as a construct, to encourage or restrict the behaviour of the individual. As such, this book will be of significance to social scientists with interests in gambling, young people, social problems, and the sociology of leisure and culture.




The Devil's Punchbowl


Book Description

Lawyer Penn Cage goes up against a mix of murder, racial tension, double-crosses, illicit sex ... and all of the ensuing violent consequences in the kudzu-strangled, snake- rat- and armadillo-infested hole of the Devil's Punchbowl.




Devil's Bargains


Book Description

The West is popularly perceived as America's last outpost of unfettered opportunity, but twentieth-century corporate tourism has transformed it into America's "land of opportunism." From Sun Valley to Santa Fe, towns throughout the West have been turned over to outsiders—and not just to those who visit and move on, but to those who stay and control. Although tourism has been a blessing for many, bringing economic and cultural prosperity to communities without obvious means of support or allowing towns on the brink of extinction to renew themselves; the costs on more intangible levels may be said to outweigh the benefits and be a devil's bargain in the making. Hal Rothman examines the effect of twentieth-century tourism on the West and exposes that industry's darker side. He tells how tourism evolved from Grand Canyon rail trips to Sun Valley ski weekends and Disneyland vacations, and how the post-World War II boom in air travel and luxury hotels capitalized on a surge in discretionary income for many Americans, combined with newfound leisure time. From major destinations like Las Vegas to revitalized towns like Aspen and Moab, Rothman reveals how the introduction of tourism into a community may seem innocuous, but residents gradually realize, as they seek to preserve the authenticity of their communities, that decision-making power has subtly shifted from the community itself to the newly arrived corporate financiers. And because tourism often results in a redistribution of wealth and power to "outsiders," observes Rothman, it represents a new form of colonialism for the region. By depicting the nature of tourism in the American West through true stories of places and individuals that have felt its grasp, Rothman doesn't just document the effects of tourism but provides us with an enlightened explanation of the shape these changes take. Deftly balancing historical perspective with an eye for what's happening in the region right now, his book sets new standards for the study of tourism and is one that no citizen of the West whose life is touched by that industry can afford to ignore.




The Devil's Garden


Book Description

A behind-the-scenes look at war crimes in Yugoslavia




Legalized Gambling


Book Description

Forty-eight states now permit legalized gambling in some form, thirty-seven states run lotteries, forty-seven allow bingo houses, and more than a dozen states permit betting on dog races. American gamblers wager over $300 billion yearly in legal gambling. Although many Americans enjoy gambling and see it as harmless recreation and a fairly painless way to generate revenue without levying direct taxes, many social conservatives see gambling as a socially destructive temptation that ought notto be indulged by private citizens, much less sponsored by government. Recently, economic pressures resulting from less federal revenue and Americans' growing aversion to tax increases have led many state governments to liberalize gambling laws or sponsor gambling, sparking a lively debate. Legalized Gambling contains twenty articles focusing on different aspects of gambling policy by experts in the fields of public policy, law, psychiatry, rhetoric, religion, economics, and politics. The contributors address all areas of the debate, including the following: -- What moral issues are at the center of the debate? -- What are the true economic costs and benefits of legalized gambling? How are they often hidden or misconstrued in order to support either prohibition or legalization? -- How has the history of gambling in America shaped our current policies? -- Is governmental regulation an invasion of personal privacy? -- What are the legitimate uses of laws? -- Is "pathological gambling" a justifiable medical diagnosis? -- Do gambling establishments run by Native Americans deserve special consideration or regulation? "(In a lottery) ... the tax is laid on the willing only, that is to say, on those who can risk the price of a ticket without sensible injury for the possibility of a higher prize". -- Thomas Jefferson




Codebreaker Code Book


Book Description

- Over 50,000 codes for more than 1,300 titles available for your PS2. - A world of codes is at your fingertips: Infinite ammo, invincibility, level skipping, and more are just a click away! - CodeBreaker is a software program that opens exclusive codes for PS2 games. The print version of the CodeBreaker Code Book includes this software; you'll need to purchase a CodeBreaker disc in order to use the eGuide.




Black Box Casino


Book Description

This cautionary tale explains how the murky and complex world of mortgage finance caused a global market meltdown—and offers new insights on how to create a stronger world of banking and mortgage finance. Years after the economic crisis of the late 2000s, Americans still want to know what went wrong—and why. Black Box Casino: How Wall Street's Risky Shadow Banking Crashed Global Finance provides an accurate and understandable explanation, compiling and interpreting mountains of evidence to provide clear analysis and insight into the crisis that traumatized people and institutions around the globe. The book provides a thorough, in-depth examination of the multiple contributing factors. The author goes back as far as 15 years before the crisis to show how the well-intentioned idea of providing home ownership prompted a government led effort to steadily weaken credit standards. He assigns partial blame on regulators that were unaware of growing levels of risk, ignored mounting evidence of a housing bubble, and failed to grasp the unintended consequences of certain regulations. The origins of the overload of subprime collateralized debt obligations that led to concentrated risks on the balance sheets of many large banks around the world are also explained.