A Colossal Failure of Common Sense

Archival Summary & Scope

In *A Colossal Failure of Common Sense*, former Lehman Brothers Vice President Larry McDonald offers an insider's account of the firm's 2008 collapse. McDonald chronicles his personal rise from a Massachusetts housing project to Lehman's trading floors, providing a unique perspective on the Wall Street culture and unspoken rules that contributed to its downfall.

This book reveals the internal decisions and reckless pursuit of growth by top executives, detailing how ambition and greed combined to demolish the nation's oldest investment bank and deliver a devastating blow to the global financial system. McDonald argues that the collapse was preventable, answering crucial questions about one of the financial crisis's most significant failures.