Sunday, October 3, 2010

October Book of the Month

Its that time again to designate a book for the month of October.  This month's book is, in my opinion, one of the best books if you like reading about crisis of 2008.  More specifically, the fall of Bear Sterns.

October's Book of the Month is: Street Fighters: The Last 72 Hours of Bear Stearns, the Toughest Firm on Wall Street by: Kelly Kate.

"Street Fighters" is a very indepth book about the last 3 days of Bear Sterns.  Kate documents every move made by the board of directors that were scrambling for every dollar, desparately trying to get a "loan" (bailout) from the US Treasury.  It also takes about how Bear Sterns ended up selling themselves for $2/share to JP Morgan.  I highly recommend this book that describes the fall of the first mighty investment bank on Wall Street.

Here is a quick summary from NY Times:

"The acclaimed New York Times bestseller-updated for the second anniversary of the collapse of Bear Stearns.
The fall of Bear Stearns in March 2008 set off a wave of global financial turmoil that continues to ripple. How could one of the oldest, most resilient firms on Wall Street go so far astray that it had to be sold at a fire sale price? How could the street fighters who ran Bear so aggressively miscalculate so completely?

Expanding with fresh detail from her acclaimed front-page series in The Wall Street Journal, Kate Kelly captures every sight, sound, and smell of Bear's three final days. She also shows how Bear's top executives descended into civil war as the mortgage crisis began to brew."

Best part is through my link, you can buy this book for $2.97 from Amazon.  We recieve a very small commission desparately need some more capital.  Thank you very much for your support!!

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