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Ghosts in Manhattan

Douglas Brunt book

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"I'll take Manhattan, the Bronx and Staten Island too." Song lyrics

Oct 21, 2012

by mikedraper
posted in Cafe Libri: Reviewing Books & More

Rating:

Douglas Brunt delivers an expose of the activities that were taking place at Bear Stearns prior to that firm being prominent in the mortgage collapse that caused bank failures across the United States.

Nick Farmer is a successful bond trader at Bear Stearns with a seven figure income. His work includes keeping the people he supervises happy as well as other traders. This comes in the manner of after work celebrations that include alcohol, strip joints, cocaine, and prostitutes. Eventually, this takes a toll on his family, his wife wants the old Nick back and Nice seems to want that too.

Fred Cook is a nerdy risk market analyst who predicts doom for Bear Stern's high mortgage backed securities. He's one of the few people in the story who is honest.

When Nick adds his support to Fred's theory, no one listens.

the author paints a dismal view of what was going on with the employees and management at Bear Stearns. From the point of view of showing what was happening in the mortgage securities market, this is a well done and important message.

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More Ghosts in Manhattan reviews

Quick Tip by mikedraper. October 21, 2012

posted in Cafe Libri: Reviewing Books & More

A Quick Tip by mikedraper

As someone in the financial area, this is an important story which brings out how far a company can fall, ethically.

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About the reviewer

Mike Draper (mikedraper)
Ranked #73

Michael A.Draper is a financial planner with Mass Mutual in North Haven, CT. Married to Diana for 46 years, one son and daughter-in-law and two lovely granddaughters. … more