House of Cards: How Wall Street's Gamblers Broke Capitalism
Format: paperback
ISBN:
9780141039596 (0141039590)
Publish date: January 1st 2010
Publisher: Penguin
Edition language: English
Heard an interview with the author. Interesting detail: Compensation at Bear Stearns was based on a ratio of how much money they made using the least amount of capital. So even when things started to go bad, they were reluctant to take offers of capital from outside. Hence they refusal of the offe...