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A Colossal Failure of Common Sense
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About the Author

LAWRENCE G. McDONALD is a managing director of Pangea Capital Management LP. He was, until 2008, vice president of distressed debt and convertible securities trading at Lehman Brothers. He ran an extremely successful joint venture between the firm's fixed income and equity divisions and was one of Lehman's most consistently profitable traders. McDonald is also cofounder of Convertbond.com, named by Forbes magazine as "Best of the Web" from 2000 to 2003, specifically citing it as the Web's premier source for convertible securities information, valuation, and news.

PATRICK ROBINSON wrote Lone Survivor with the U.S. Navy SEAL Marcus Luttrell.

Reviews

"...gives the readers a visceral sense of what it was like to work at Lehman Brothers and the fateful decisions and events that led to the company's death spiral..."
--Michiko Kakutani, The New York Times

"Highly readable...A Colossal Failure of Common Sense largely rings true. It expresses the anger that many former Lehman employees still feel toward Mr. Fuld. And it convincingly characterizes the investment bank as a house divided against itself, between the bears who had foreseen bubbles and the bulls who wrongly believed that this time was different."
--The Economist "... describes a CEO -acting as if his firm was too big to fail."
--Wall Street Journal "...poignantly told...from an insider [who] witnessed, often in amazement and disgust, the corporate dysfunction and hubristic leadership that led to [Lehman's] demise."
--BusinessWeek "...engaging and even funny."
--Fortune

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