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Greed and Glory on Wall Street: The Fall of the House of Lehman by Ken Auletta

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The story begins on July 12, 1983. John B. Carter, President and chief executive officer of the Equitable Life Assurance Society of the United States, the nation’s third-largest life insurer, had invited Pete Peterson to lunch in the private Hyde Room at Equitable’s corporate headquarters thirty-eight floors above the Avenue of the Americas and West 51st Street. Peterson invited Glucksman to join him. This was not done grudgingly. On a professional level Peterson knew he needed Glucksman. For three years, Glucksman had managed the day-to-day business of the firm; all of the departments reported to him, and his knowledge of Lehman’s affairs was vast. Moreover, Peterson had an agenda for the lunch and he wanted Glucksman’s cooperation to carry ...

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