The Last Partnerships Inside The Great Wall Street Dynasties

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The Last Partnerships: Inside the Great Wall Street Dynasties

Author : Charles R. Geisst
Publisher : McGraw Hill Professional
ISBN 13 : 0071382615
Total Pages : 353 pages
Book Rating : 4.0/5 (713 download)

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Book Synopsis The Last Partnerships: Inside the Great Wall Street Dynasties by : Charles R. Geisst

Download or read book The Last Partnerships: Inside the Great Wall Street Dynasties written by Charles R. Geisst and published by McGraw Hill Professional. This book was released on 2001-04-22 with total page 353 pages. Available in PDF, EPUB and Kindle. Book excerpt: They laid the foundations of American finance and defined the American brand of capitalism. They bankrolled wars, were the impetus behind the building of the first transcontinental railroad system, and fueled a fledgling nation’s grandiose dreams of empire. S&M Allen, J. P. Morgan & Co., Goldman Sachs, Lehman Brothers...they were the great Wall Street partnerships, and for well over a century, through a combination of financial genius, political chicanery, and the audacity of Caesars, they wielded unprecedented influence over the business, financial, and political landscapes of a nation.The Last Partnerships combines rigorous scholarship with journalism at its best to present a panoramic history of the rise and fall of the great financial houses—from the “Yankee Bankers,” at the turn of the 19th century, up to Goldman Sachs’ historic IPO in 1999—tracing their origins, their successes and failures over the years, and the reasons for their ultimate demise. The Last Partnerships is must-reading for history buffs and everyone interested in the world of finance behind the business-page headlines.

Wall Street

Author : Charles R. Geisst
Publisher : Oxford University Press
ISBN 13 : 0199723079
Total Pages : 449 pages
Book Rating : 4.1/5 (997 download)

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Book Synopsis Wall Street by : Charles R. Geisst

Download or read book Wall Street written by Charles R. Geisst and published by Oxford University Press. This book was released on 1997-09-18 with total page 449 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the seven years since the publication of the first edition of Wall Street, America's financial industry has undergone a series of wrenching events that have dramatically changed the nation's economic landscape. The bull market of the 1990's came to a close, ushering in the end of the dot com boom, a record number of mergers occurred, and accounting scandals in companies like Enron and WorldCom shook the financial industry to its core. In this wide-ranging volume, financial historian Charles Geisst provides the first history of Wall Street, explaining how a small, concentrated pocket of lower Manhattan came to have such enormous influence in national and world affairs. In this updated edition, Geisst sums up the recent turbulence that has threatened America's financial industry. He shows how in 1997 thirty NASDAQ market makers paid a record $1.3 billion fine for price irregularities in stocks. He makes sense of the closing of the bull market, and explains a major change in the accounting rules for mergers that caused monumental losses for companies like AOL Time Warner. And he recounts how in the aftermath of the speculative fever that swept Wall Street in the 1990's, the scandals at Enron, Tyco, Worldcom, and Conseco represent a last gasp of mergermania and a fallout from a bubble-like market. Wall Street is at once the story of the street itself, from the days when the wall was merely a defensive barricade built by Peter Stuyvesant, to the modern billion-dollar computer-driven colossus of today. In a broader sense it is an engaging economic history of the United States, the role Wall Street played in making America the most powerful economy in the world, and the many challenges to that role it has faced in recent years.

The Last of the Imperious Rich

Author : Peter Chapman
Publisher : Penguin
ISBN 13 : 1101442700
Total Pages : 346 pages
Book Rating : 4.1/5 (14 download)

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Book Synopsis The Last of the Imperious Rich by : Peter Chapman

Download or read book The Last of the Imperious Rich written by Peter Chapman and published by Penguin. This book was released on 2010-09-02 with total page 346 pages. Available in PDF, EPUB and Kindle. Book excerpt: On September 11, 1844, Henry Lehman arrived in New York City on a boat from Germany. Soon after, he moved to Montgomery, Alabama, where he and his brother Emanuel established a modest cotton brokering firm that would come to be called Lehman Brothers. On September 15, 2008, Dick Fuld, the last CEO of Lehman Brothers, filed for corporate bankruptcy amid one of the worst financial crises in American history. After 164 years, one of the largest and most respected investment banks in the world was gone, leaving everyone wondering, "How could this have happened?" Peter Chapman, an editor and writer for The Financial Times, answers this question by exploring the complete history of Lehman Brothers between those two historic Septembers. He takes us back to its early days as a cotton broker in Alabama, and then to its glory days as one of the leading corporate financiers in America. He also provides an intimate portrait of the people who ran Lehman over the decades-from Henry Lehman, the founder, to Bobbie Lehman, who led the company into the world of radio, motion pictures, and air travel in first part of the 20th century, to Dick Fuld, who allowed it to morph into a dealer of shoddy securities. Throughout his account of this imperiously rich firm, Chapman examines the impact Lehman Brothers had not only on American finance but also on American life. As a major backer of companies like Pan American Airlines, Macy's, and RKO, Lehman helped lead the country into major new industries and helped support some of its most intrepid entrepreneurs. He then shows how, starting in the 1980s, Lehman's increased focus on short-term gain investments led the firm down the dangerous path that would eventually lead to its demise. In the end, the story of Lehman Brothers is not only the story of a truly important American company but a cautionary tale of what happens when leaders lose sight of their core mission in their quest for something too good to be true. Praise for The Last of the Imperious Rich: "Thought provoking and illuminating" - The New York Times "Chapman has succeeded in holding up a mirror to America's past - and what its future might hold" - Bloomberg

Gentlemen Bankers

Author : Susie J. Pak
Publisher : Harvard University Press
ISBN 13 : 0674075579
Total Pages : 367 pages
Book Rating : 4.6/5 (74 download)

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Book Synopsis Gentlemen Bankers by : Susie J. Pak

Download or read book Gentlemen Bankers written by Susie J. Pak and published by Harvard University Press. This book was released on 2013-06-10 with total page 367 pages. Available in PDF, EPUB and Kindle. Book excerpt: Gentlemen Bankers investigates the social and economic circles of one of America’s most renowned and influential financiers to uncover how the Morgan family’s power and prestige stemmed from its unique position within a network of local and international relationships. At the turn of the twentieth century, private banking was a personal enterprise in which business relationships were a statement of identity and reputation. In an era when ethnic and religious differences were pronounced and anti-Semitism was prevalent, Anglo-American and German-Jewish elite bankers lived in their respective cordoned communities, seldom interacting with one another outside the business realm. Ironically, the tacit agreement to maintain separate social spheres made it easier to cooperate in purely financial matters on Wall Street. But as Susie Pak demonstrates, the Morgans’ exceptional relationship with the German-Jewish investment bank Kuhn, Loeb & Co., their strongest competitor and also an important collaborator, was entangled in ways that went far beyond the pursuit of mutual profitability. Delving into the archives of many Morgan partners and legacies, Gentlemen Bankers draws on never-before published letters and testimony to tell a closely focused story of how economic and political interests intersected with personal rivalries and friendships among the Wall Street aristocracy during the first half of the twentieth century.

The Public Company Transformed

Author : Brian Cheffins
Publisher : Oxford University Press
ISBN 13 : 0190640340
Total Pages : 452 pages
Book Rating : 4.1/5 (96 download)

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Book Synopsis The Public Company Transformed by : Brian Cheffins

Download or read book The Public Company Transformed written by Brian Cheffins and published by Oxford University Press. This book was released on 2018-09-28 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt: For decades, the public company has played a dominant role in the American economy. Since the middle of the 20th century, the nature of the public company has changed considerably. The transformation has been a fascinating one, marked by scandals, political controversy, wide swings in investor and public sentiment, mismanagement, entrepreneurial verve, noisy corporate "raiders" and various other larger-than-life personalities. Nevertheless, amidst a voluminous literature on corporations, a systematic historical analysis of the changes that have occurred is lacking. The Public Company Transformed correspondingly analyzes how the public company has been recast from the mid-20th century through to the present day, with particular emphasis on senior corporate executives and the constraints affecting the choices available to them. The chronological point of departure is the managerial capitalism era, which prevailed in large American corporations following World War II. The book explores managerial capitalism's rise, its 1950s and 1960s heyday, and its fall in the 1970s and 1980s. It describes the American public companies and executives that enjoyed prosperity during the 1990s, and the reversal of fortunes in the 2000s precipitated by corporate scandals and the financial crisis of 2008. The book also considers the regulation of public companies in detail, and discusses developments in shareholder activism, company boards, chief executives, and concerns about oligopoly. The volume concludes by offering conjectures on the future of the public corporation, and suggests that predictions of the demise of the public company have been exaggerated.

Wall Street: A History

Author : Charles R. Geisst
Publisher : Oxford University Press, USA
ISBN 13 : 0199883610
Total Pages : 450 pages
Book Rating : 4.1/5 (998 download)

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Book Synopsis Wall Street: A History by : Charles R. Geisst

Download or read book Wall Street: A History written by Charles R. Geisst and published by Oxford University Press, USA. This book was released on 2004-02-20 with total page 450 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the seven years since the publication of the first edition of Wall Street, America's financial industry has undergone a series of wrenching events that have dramatically changed the nation's economic landscape. The bull market of the 1990's came to a close, ushering in the end of the dot com boom, a record number of mergers occurred, and accounting scandals in companies like Enron and WorldCom shook the financial industry to its core. In this wide-ranging volume, financial historian Charles Geisst provides the first history of Wall Street, explaining how a small, concentrated pocket of lower Manhattan came to have such enormous influence in national and world affairs. In this updated edition, Geisst sums up the recent turbulence that has threatened America's financial industry. He shows how in 1997 thirty NASDAQ market makers paid a record $1.3 billion fine for price irregularities in stocks. He makes sense of the closing of the bull market, and explains a major change in the accounting rules for mergers that caused monumental losses for companies like AOL Time Warner. And he recounts how in the aftermath of the speculative fever that swept Wall Street in the 1990's, the scandals at Enron, Tyco, Worldcom, and Conseco represent a last gasp of mergermania and a fallout from a bubble-like market. Wall Street is at once the story of the street itself, from the days when the wall was merely a defensive barricade built by Peter Stuyvesant, to the modern billion-dollar computer-driven colossus of today. In a broader sense it is an engaging economic history of the United States, the role Wall Street played in making America the most powerful economy in the world, and the many challenges to that role it has faced in recent years.

Greater Gotham

Author : Mike Wallace
Publisher : Oxford University Press
ISBN 13 : 0199723052
Total Pages : 1195 pages
Book Rating : 4.1/5 (997 download)

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Book Synopsis Greater Gotham by : Mike Wallace

Download or read book Greater Gotham written by Mike Wallace and published by Oxford University Press. This book was released on 2017-09-04 with total page 1195 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this utterly immersive volume, Mike Wallace captures the swings of prosperity and downturn, from the 1898 skyscraper-driven boom to the Bankers' Panic of 1907, the labor upheaval, and violent repression during and after the First World War. Here is New York on a whole new scale, moving from national to global prominence -- an urban dynamo driven by restless ambition, boundless energy, immigrant dreams, and Wall Street greed. Within the first two decades of the twentieth century, a newly consolidated New York grew exponentially. The city exploded into the air, with skyscrapers jostling for prominence, and dove deep into the bedrock where massive underground networks of subways, water pipes, and electrical conduits sprawled beneath the city to serve a surging population of New Yorkers from all walks of life. New York was transformed in these two decades as the world's second-largest city and now its financial capital, thriving and sustained by the city's seemingly unlimited potential. Wallace's new book matches its predecessor in pure page-turning appeal and takes America's greatest city to new heights.

Deals of the Century

Author : Charles R. Geisst
Publisher : John Wiley & Sons
ISBN 13 : 0471480851
Total Pages : 354 pages
Book Rating : 4.4/5 (714 download)

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Book Synopsis Deals of the Century by : Charles R. Geisst

Download or read book Deals of the Century written by Charles R. Geisst and published by John Wiley & Sons. This book was released on 2004-03-31 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: DEALS OF THE CENTURY Throughout history, mergers and acquisitions have been the major game played on Wall Street. These deals have had far-reaching effects, on the worlds of finance and industry - more than most commentators or financiers are publicly willing to admit. Deals of the Century captures this dynamic moment in history by taking an in-depth look at the most notable merger and acquisition deals of the twentieth of Carnegie Steel in 1901 to the creation of the former AOL Time Warner, renowned business historian and bestselling author Charles Geisst traces the deals that have had the most dramatic impact on the worlds of both finance and industry over the past century. Decade by decade, you'll be introduced to the personalities behind each event, as industries are built, dismantled, and reorganized by "professionals" driven mainly by the profits extracted from the deals themselves. Engaging and informative, Deals of the Century paints an exciting portrait of the incredible M&A journey and illustrates how many of these deals changed the face of business, creating a modern capitalist society that continues to grow.

A Financial History of Modern U.S. Corporate Scandals

Author : Jerry W Markham
Publisher : Routledge
ISBN 13 : 1317478169
Total Pages : 770 pages
Book Rating : 4.3/5 (174 download)

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Book Synopsis A Financial History of Modern U.S. Corporate Scandals by : Jerry W Markham

Download or read book A Financial History of Modern U.S. Corporate Scandals written by Jerry W Markham and published by Routledge. This book was released on 2015-01-28 with total page 770 pages. Available in PDF, EPUB and Kindle. Book excerpt: A definitive new reference on the major failures of American corporate governance at the start of the 21st century. Tracing the market boom and bust that preceded Enron's collapse, as well as the aftermath of that failure, the book chronicles the meltdown in the telecom sector that gave rise to accounting scandals globally. Featuring expert analysis of the Sarbanes-Oxley legislation that was adopted in response to these scandals, the author also investigates the remarkable market recovery that followed the scandals. An exhaustive guide to the collapse of the Enron Corporation and other financial scandals that erupted in the wake of the market downturn of 2000, this book is an essential resource for students, teachers and professionals in corporate governance, finance, and law.

The Accidental Investment Banker

Author : Jonathan A. Knee
Publisher : Oxford University Press
ISBN 13 : 0198042051
Total Pages : 273 pages
Book Rating : 4.1/5 (98 download)

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Book Synopsis The Accidental Investment Banker by : Jonathan A. Knee

Download or read book The Accidental Investment Banker written by Jonathan A. Knee and published by Oxford University Press. This book was released on 2006-08-15 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: Jonathan A. Knee had a ringside seat during the go-go, boom-and-bust decade and into the 21st century, at the two most prestigious investment banks on Wall Street--Goldman Sachs and Morgan Stanley. In this candid and irreverent insider's account of an industry in free fall, Knee captures an exhilarating era of fabulous deal-making in a free-wheeling Internet economy--and the catastrophe that followed when the bubble burst. Populated with power players, back stabbers, celebrity bankers, and godzillionaires, here is a vivid account of the dramatic upheaval that took place in investment banking. Indeed, Knee entered an industry that was typified by the motto "first-class business in a first-class way" and saw it transformed in a decade to a free-for-all typified by the acronym IBG, YBG ("I'll be gone, you'll be gone"). Increasingly mercenary bankers signed off on weak deals, knowing they would leave them in the rear-view mirror. Once, investment bankers prospered largely on their success in serving the client, preserving the firm, and protecting the public interest. Now, in the "financial supermarket" era, bankers felt not only that each day might be their last, but that their worth was tied exclusively to how much revenue they generated for the firm on that day--regardless of the source. Today, most young executives feel no loyalty to their firms, and among their clients, Knee finds an unprecedented but understandable level of cynicism and distrust of investment banks. Brimming with insight into what investment bankers actually do, and told with biting humor and unflinching honesty, The Accidental Investment Banker offers a fascinating glimpse behind the scenes of the most powerful companies on Wall Street.

Encyclopedia of American Business History

Author : Charles R. Geisst
Publisher : Infobase Publishing
ISBN 13 : 1438109873
Total Pages : 581 pages
Book Rating : 4.4/5 (381 download)

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Book Synopsis Encyclopedia of American Business History by : Charles R. Geisst

Download or read book Encyclopedia of American Business History written by Charles R. Geisst and published by Infobase Publishing. This book was released on 2014-05-14 with total page 581 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presents an alphabetically-arranged reference to the history of business and industry in the United States. Includes selected primary source documents.

Wheels of Fortune

Author : Charles R. Geisst
Publisher : John Wiley & Sons
ISBN 13 : 0471471763
Total Pages : 386 pages
Book Rating : 4.4/5 (714 download)

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Book Synopsis Wheels of Fortune by : Charles R. Geisst

Download or read book Wheels of Fortune written by Charles R. Geisst and published by John Wiley & Sons. This book was released on 2003-04-21 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: An intriguing history of the futures market and speculation From Jay Gould's attempt to corner the gold market in the 1860s to the Hunt brothers' scandalous efforts to control the silver market in the 1980s, Wheels of Fortune traces the rich, colorful history of the futures market on its quest for respectability and profit. This comprehensive account shows readers why the markets have been grabbing headlines for over 100 years as both respectable economic institutions and hotbeds of gambling activity and scandal. Charles Geisst brings the personalities and strategies behind the futures market and speculation in general to life, against a backdrop of American life that begins prior to the Civil War.

From Enron to Reform

Author : Jerry W. Markham
Publisher : Taylor & Francis
ISBN 13 : 1000592871
Total Pages : 906 pages
Book Rating : 4.0/5 (5 download)

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Book Synopsis From Enron to Reform by : Jerry W. Markham

Download or read book From Enron to Reform written by Jerry W. Markham and published by Taylor & Francis. This book was released on 2022-06-06 with total page 906 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally published in 2006, this book examines the collapse of the Enron Corp. and other financial scandals that arose in the wake of the market downturn in 2000. Part 1 reviews the market book and bust that preceded Enron’s collapse. It then describes the growth of Enron and the events that led to its sensational failure. Part 2 examines the role of the Securities and Exchange Commission’s full disclosure system in corporate governance and the role of accountants in that system. Part 3 reviews the meltdown in the telecoms sector and the accounting scandals that emerged. Part 4 traces the remarkable market recovery that followed the financial scandals and the resumption of the growth of finance in America.

Wall Streeters

Author : Edward Morris
Publisher : Columbia University Press
ISBN 13 : 0231540507
Total Pages : 516 pages
Book Rating : 4.2/5 (315 download)

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Book Synopsis Wall Streeters by : Edward Morris

Download or read book Wall Streeters written by Edward Morris and published by Columbia University Press. This book was released on 2015-10-13 with total page 516 pages. Available in PDF, EPUB and Kindle. Book excerpt: “[A] retelling of the careers and the personalities . . . who formed today’s world of high finance.” —St. Louis Post-Dispatch The 2008 financial collapse, the expansion of corporate and private wealth, the influence of money in politics—many of Wall Street’s contemporary trends can be traced back to the work of fourteen critical figures who wrote, and occasionally broke, the rules of American finance. Edward Morris plots in absorbing detail Wall Street’s transformation from a clubby enclave of financiers to a symbol of vast economic power. His book begins with J. Pierpont Morgan, who ruled the American banking system at the turn of the twentieth century, and ends with Sandy Weill, whose collapsing Citigroup required the largest taxpayer bailout in history. In between, Wall Streeters relates the triumphs and missteps of twelve other financial visionaries. From Charles Merrill, who founded Merrill Lynch and introduced the small investor to the American stock market; to Michael Milken, the so-called junk bond king; to Jack Bogle, whose index funds redefined the mutual fund business; to Myron Scholes, who laid the groundwork for derivative securities; and to Benjamin Graham, who wrote the book on securities analysis. Anyone interested in the modern institution of American finance will devour this history of some of its most important players.

Jacob Schiff and the Art of Risk

Author : Adam Gower
Publisher : Springer
ISBN 13 : 3319902660
Total Pages : 349 pages
Book Rating : 4.3/5 (199 download)

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Book Synopsis Jacob Schiff and the Art of Risk by : Adam Gower

Download or read book Jacob Schiff and the Art of Risk written by Adam Gower and published by Springer. This book was released on 2018-06-19 with total page 349 pages. Available in PDF, EPUB and Kindle. Book excerpt: Jacob Henry Schiff (1847–1920), a German-born American Jewish banker, facilitated critical loans for Japan in the early twentieth century. Working on behalf of the firm of Kuhn, Loeb & Co., Schiff’s assertiveness in favour of Japan separated him from his fellow German Jewish financiers and the banking establishment generally. This book’s analysis differs from the consensus that Schiff funded Japan largely out of enmity towards Russia but rather sought to work with Japan for over thirty years. This was as much a factor in his actions surrounding the Russo-Japanese War (1904–1905) as his concern to thwart Russian antisemitism. Of interest to financial historians alongside Japanese historians and academics of both genres, this book provides a lively and thoroughly researched volume that precisely focuses on Schiff’s mastery of banking.

Who Governs?

Author : John H. Wood
Publisher : Springer Nature
ISBN 13 : 3030330834
Total Pages : 278 pages
Book Rating : 4.0/5 (33 download)

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Book Synopsis Who Governs? by : John H. Wood

Download or read book Who Governs? written by John H. Wood and published by Springer Nature. This book was released on 2020-01-28 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt: When we start to perceive that there is a problem in the market (such as monopoly, fraud or speculation), the legislature passes a law to correct it, a bureaucracy is created to interpret and enforce the new law, firms and other market participants comply, and the problem is solved. But is it? Are politicians’ promises and textbooks’ stories to be believed? This book examines US economic history to demonstrate how the applications of laws are uncertain, affected by changing political and economic conditions as well as by legislators’ perceptions and the ability or willingness of bureaucracies to enforce laws. The two cases developed in this book revolve around William McChesney Martin, Jr., who helped apply (i) the 1930s Securities Acts as president of the New York Stock Exchange and (ii) the Federal Reserve Act in the Keynesian era unforeseen by that Act. As chairman of the New York Stock Exchange, Martin served as private regulator of firms listed on the Exchange—itself a publicly regulated entity. As chairman of the Federal Reserve, he then served as a public regulator. This book thus offers an innovative approach to understanding and examining the various issues and incentives facing each of the three parties: regulated, private regulator, and public regulator.

Swindlers All, a Brief History of Government Business Frauds from Alexander Hamilton to AIG

Author : Michael Powelson
Publisher : Cambridge Scholars Publishing
ISBN 13 : 1527533654
Total Pages : 332 pages
Book Rating : 4.5/5 (275 download)

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Book Synopsis Swindlers All, a Brief History of Government Business Frauds from Alexander Hamilton to AIG by : Michael Powelson

Download or read book Swindlers All, a Brief History of Government Business Frauds from Alexander Hamilton to AIG written by Michael Powelson and published by Cambridge Scholars Publishing. This book was released on 2019-04-24 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the wake of the Great Recession of 2007-2008, millions of hardworking Americans lost their jobs and their homes, their retirements, and their income. However, the corporations that caused the Great Recession lost nothing and were, in fact, given trillions of dollars by the government in an unprecedented financial bailout. While over 16 trillion dollars went missing, not a single Wall Street executive was punished or even charged with a crime. This book chronicles some of the government and business frauds carried out throughout US history. These swindles were carried out by such “Founders” as Alexander Hamilton, George Washington, James Madison and Thomas Jefferson. Corruption was also at the core of the Andrew Jackson administration and played a key role in perpetrating the Panic of 1837, and government and business fraud was rampant in the construction of both the transcontinental railroad and the Panama Canal. Court rulings granting corporations the status of “legal personage” were part of a broader scam that extended greater constitutional and legal protections to corporations while denying Blacks and workers their own constitutional and legal rights. Government and business frauds of the 1920s played a prominent role in spawning the Great Depression of 1929, while funding and provisioning the US military has always been inundated with a wide variety of scams. In the early 1990s, government and business scams resulted in the collapse of the savings and loan industry, while the frauds of the early 21st century resulted in the Great Recession of 2007-2008. Today, all of the factors are in place to lead to yet another depression/recession which will be followed inevitably by a massive government bailout of banks and corporations.