This book is a definitive account of the events leading up to the crash of 2008. The narration of the events starts from March of that fateful year when Bear Stearns agreed to be sold to JPM at dirt cheap price. This was the beginning of the end of famous wall street business model. The book gives a blow-by-blow account of the bankruptcy of Lehman, government’s take over of world’s largest insurer (AIG), Freddie Mac and Fannie Mae; conversion of Goldman and Morgan Stanley to banking entities and fire sale of Wachovia to Wells Fargo. It is interesting to read about the actors and their personalities at the heart of the crisis including Paulson, Geithner, Dick Fuld, Bernake, Dimon, John Mack, just to name a few.
Although the book does not dwell much into the actual reasons for the wall street collapse, it still offers a good chronicle of every event that led to the final blow-out of the crisis. Read this book if you are keen to know the inside story that led to the fatal fall of wall street.