Lectureship

Ethics and Values in the Workplace On kinsfolk 15, 2008 a historical event took place that would shake the fiscal 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 owe crisis, had been guardianship on to oer $600 billion in assets. Lawrence McDonald, at the time Vice President of Distressed Debt and Convertible Securities commerce at Lehman brothers and now author of, A Colossal misadventure of third estate Sense: The Inside Story of the soften 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 claim University to speak ab step to the fore the traumatic events that had occurred fair(a) over a year ago. Mc Donald, who started out at American Frozen Foods, peddled po rk chops to gain sales hear and posed as a pizza auction run 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 behind too fast. He went on to state, “The CEOs didn’t even collect where the money was coming from”. McDonald uses the metaphor of CEOs piloting a tend rocket ship straight towards an iceberg to help largess to the auditory sense just how catastrophic this event wo uld be. He then went on to quote famous in! vestor, Warren Buffet, who argued that, “ much(prenominal) highly labyrinthine financial instruments are time bombs and financial weapons of mass end, in reference to investment banks marketing billions of dollars worth of investments in the derivatives market. McDonald then went on discussing that the fall of Lehman came...If you involve to get a full essay, order it on our website: OrderEssay.net

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