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

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Rumors began to Engulf Lehman Brothers. Banking partners buzzed about new trading losses, provoking fears that Dick Fuld would take even greater trading risks in hopes of making a financial killing to strengthen Glucksman & Company. Word of a mass exodus of partners was in the air—Dick Fuld heard that five partners planned to leave; François de Saint Phalle pegged the number as closer to ten. There were whispers about a move to bring Peterson back as chairman; about how Solomon and Schwarzman were aggressively shopping and trying to sell the firm; about how Peterson was slyly maneuvering to locate a buyer because if the firm were sold in the next two years, he would still receive a premium.

Business went on, deals were closed, trades made, clients ...

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