From the outside, it looked like a colossal failure of management: a case of crossed wires, perhaps, or the result of overpowering pressures combining with such force that the people in charge had no option but to do what they did.
What else could explain Susan Peterson Kennedy’s decision last week Read More
In this morning’s paper, we said Roger Lowenstein is "considering" writing a book about the banking crisis that tore through Wall Street last week. Turns out he had his mind made up! According to the Publishers Marketplace dealwire, Six Days That Shook the World, "a look at last week on Wall Street and in Read More
Roger Lowenstein is a rare commodity: a financial journalist with no apparent ax to grind, who seems to understand the people and institutions he covers, and is more often right than wrong on the big issues that matter. While most of us were trying to figure out how mere mortals could participate in the latest Read More
When Genius Failed: The Rise and Fall of Long-Term Capital Management , by Roger Lowenstein. Random House, 264 pages, $26.95.
The story of Long-Term Capital Management, the Greenwich, Conn., investment firm that lost $4.5 billion dollars in six months of 1998, is as good as any to be found in the annals of American financial Read More