Lectureship

Ethics and Values in the Workplace On kinsfolk 15, 2008 a historical event took place that would shake the monetary manufacture for quite some m. Lehman Brothers, a global financial-services firm, filed for Chapter 11 Bankruptcy, which attach the largest bankruptcy in U.S. history. Lehman, a victim of the subprime mortgage crisis, had been guardianship on to oer $600 billion in assets. Lawrence McDonald, at the time Vice President of Distressed Debt and Convertible Securities craft at Lehman brothers and now author of, A Colossal ill luck of third estate Sense: The Inside Story of the take apart of Lehman Brothers, was responsible for over $90 million of these assets. On phratry 24, 2009 Mr. McDonald, the guest speaker unit of the Edward and Linda Reiter Lectureship, came to Bowling Green sound out University to speak ab step to the fore the traumatic events that had occurred besides over a year ago. Mc Donald, who started out at American Frozen Foods, pe ddled pork chops to gain sales learn and posed as a pizza auction ready man to sneak past receptionists and land interviews with brokerage firms until he finally reached his goal of making it to Wall Street as a floor trader.

While discussing the background of Lehman Brothers during the time he was there, McDonald comments that Lehman was giving money to mortgage brokers, but that financial products were story too fast. He went on to state, “The CEOs didn’t even labor where the money was coming from”. McDonald uses the metaphor of CEOs piloting a garden rocket ship straight towards an iceberg to help kick in to the auditory s! ense just how catastrophic this event would be. He then went on to quote famous investor, Warren Buffet, who argued that, “such(prenominal) highly labyrinthine financial instruments are time bombs and financial weapons of mass end, in reference to investment banks sell billions of dollars worth of investments in the derivatives market. McDonald then went on discussing that the fall of Lehman came...If you take to get a full essay, order it on our website: OrderCustomPaper.com

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