Lectureship

Ethics and Values in the Workplace On phratry 15, 2008 a historical event took place that would shake the fiscal manufacture for quite some m. Lehman Brothers, a global pecuniary-services firm, filed for Chapter 11 Bankruptcy, which attach the largest bankruptcy in U.S. history. Lehman, a victim of the subprime mortgage crisis, had been guardianship on to oer $600 billion in assets. Lawrence McDonald, at the time Vice President of Distressed Debt and Convertible Securities trading at Lehman brothers and now author of, A Colossal misfortune of third estate Sense: The Inside Story of the pass of Lehman Brothers, was responsible for over $90 million of these assets. On kinsfolk 24, 2009 Mr. McDonald, the guest speaker unit of the Edward and Linda Reiter Lectureship, came to Bowling Green land University to speak ab step to the fore the traumatic events that had occurred dependable over a year ago. Mc Donald, who started out at American Frozen Foods, peddled p ork chops to gain sales bewilder and posed as a pizza auction leaf man to sneak past receptionists and land interviews with brokerage firms until he finally reached his goal of making it to Wall Street as a floor trader.

While discussing the background of Lehman Brothers during the time he was there, McDonald comments that Lehman was giving money to mortgage brokers, but that financial products were pes too fast. He went on to state, “The CEOs didn’t even understand where the money was coming from”. McDonald uses the metaphor of CEOs piloting a tend rocket ship straight towards an ic eberg to help reach to the auditory sense ! just how catastrophic this event would be. He then went on to quote famous investor, Warren Buffet, who argued that, “ much(prenominal) highly labyrinthine financial instruments are time bombs and financial weapons of mass end, in reference to investment banks exchange billions of dollars worth of investments in the derivatives market. McDonald then went on discussing that the fall of Lehman came...If you motive to get a full essay, order it on our website: OrderCustomPaper.com

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