O'Reilly logo

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

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

William Welsh was in the pool at his Westhampton Beach house, enjoying a vacation, when Lew Glucksman called Monday afternoon. “There’s a special meeting of the board tomorrow at two,” he remembers Glucksman saying. “I want all directors to attend. It is not for the sale of the firm.” Glucksman would not say why the meeting was called. Welsh drove in the next morning and upon arriving in the office, asked his fellow board members, “What’s going on?” No one knew. Each board member had received, the day before, a one-sentence memo announcing “a Special Meeting of the Board” to be held Tuesday, July 26, 1983, at 2:00 P.M.

Aside from Peterson, Glucksman and Rubin, only two board members say they suspected that Peterson was to be ousted. One was William ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required