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

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By the end of September the whispers about Glucksman grew louder, though he was not hearing them. Partners compared him to Ahab, to Captain Queeg, to Richard Nixon, to protagonists whose real enemy was within, men who succumbed to what Melville called Ahab’s “fatal pride.”

Peter Solomon was openly morose. “I actually then decided to leave the firm in December,” he says. “I was a voice in the wilderness.” Solomon was distressed by the decisions about bonuses and shares, by Glucksman’s behavior in general, by the failure of Glucksman and the board to take him seriously on any number of issues, including his warning that Lehman lacked sufficient capital to compete with the giant full-service investment banking houses and should consider going public, ...

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