New York, NY – Wall Street experts, CEO Peter Ressler and former COO Monika Mitchell of a premier financial search firm serving the institutional debt (bond) markets saw it all –the boom years leading to the greatest economic crisis of our time and the chaos and panic that erupted as the financial system imploded – from the inside. As specialists in recruiting for senior management in the mortgage securities markets, Ressler and Mitchell witnessed the dramatic human story unfolding behind the scenes at the largest financial institutions in the world. “Conversations with Wall Street” reveals never-before-heard stories from market makers themselves at Goldman Sachs, BofA, Citigroup, Morgan Stanley, Barclay’s, Deutsche Bank, UBS, HSBC, JPMorgan, and former powerhouse investment banks Lehman Brothers, Merrill Lynch and Bear Stearns. Mortgage traders, analysts and salespeople explain what they did, why they did it, and what they would do differently if they had the chance.
“Conversations with Wall Street: The Inside Story of the Financial Armageddon and How to Prevent the Next One” is the gripping and moving tale of financial stars who lost entire fortunes in a day through the greed and gluttony of an industry gone haywire. A senior investment banker confessed, “I’ve never been in an environment where almost everyone misinterprets good fortune as genius.”
They cry, rage, and curse the system that destroyed their careers and livelihoods and created untold misery for millions of Americans and victims around the globe. These remarkable conversations allow us to see the economic crisis through the eyes of those who brought the system down. They tell us how to fix a system that was built to self-destruct. A top bond trader explains, “We all knew in our heads that when the bubble burst, it would be a bit painful; but there’s pain and there’s outright Armageddon. This is Armageddon.”
Solutions for economic challenges facing the U.S. and Europe, and argued over in Congress, the Super Committee and homes of struggling Americans are detailed in an extraordinary final chapter called: “The Social Contract.” Conversations offers answers for how Wall Street’s 1% can right past wrongs and rebuild the financial system so it works for both the 1% and 99% on Main Street.
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ISBN-13: 978-1607462941 Print: $14.95 e-book $7.99 www.fpbks.com/cwws
