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

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In November, other battles debilitated the partnership. On November 8, Glucksman formally told the six other members of the operating committee that he intended to appoint Robert Rubin president. This was not a new idea to Glucksman. He had planned it around the time he confronted Peterson in July. That fall Glucksman had sounded out a few senior partners about it. It is unclear whether those he approached were genuinely enthusiastic, in which case he was talking to too few partners, or whether those he approached were too timid to share their true opinions. What is clear is that Glucksman was as oblivious to the anger this move would arouse as Peterson had been to the fury smoldering within Lew Glucksman.

When Glucksman told the operating committee ...

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