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Lawrence G. McDonald author of the number one business book in the world "A Colossal Failure of Common Sense" on the financially disastrous failure of Lehman Brothers is coming to Calgary June 3, 2010 ...

Lawrence G. McDonald author of the number one business book in the world "A Colossal Failure of Common Sense" on the financially disastrous failure of Lehman Brothers is coming to Calgary June 3, 2010 from 3:30 to 6:00 p.m.

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    Lawrence McDonald Slides Lawrence McDonald Slides Presentation Transcript

    • Lawrence G. McDonald The Vice President Who Blew The Lid Off Lehman Brothers Managing Director, Pangea Capital LLC New York Times Bestselling Author International Keynote Speaker The Only Book Written By An Insider #1 Business Book In The World Now Translated Into 14 Languages
    • A Recipe For a Perfect Storm. And it’s happening again. Golden Era Of Credit. Treasuries, Corporate Bonds, Junk Bonds Become Tighter & Tighter.
    • These ultra-liquid AAA-rated securities went from investment grade to junk overnight. PRIDE BEFORE THE FALL
    • There was only one small door at the back of the theatre, and everyone was trying to get out. They massively misjudged how wide the tails would become.
    • Our chief risk officers knew the dangers, but they were silenced. Never fund long-term investments with short-term money.
    • N o I ncome, N o J ob, No A ssets N I N J A
    • In the end, they were nothing more than two government funded carry-trade hedge funds. FANNIE MAE & FREDDIE MAC
    • Lehman Brothers’ Chairman & CEO Richard S. Fuld, Jr.
    • Lehman Brothers’ Stock Chart Just a simple line… …that now represents financial Armageddon.
    • 1) Abolish Chairman & CEO 2) Term Limits for CEOs & Board Members 3) Risk Committee Members On Board 4) Former CEOs As Board Members Corporate Governance
    • Lehman Brothers’ Board Members They had an average age of 70, and were overseeing $750 billion of systemic risk.
      • Incentivise poorly paid regulators with TARP money. 2) Coordination Of Regulators; SEC, FDIC, FSA, Office Of Thrift Supervision, Comptroller of the Currency, Insurance Commissioner.
      Re-Vamping the Regulators, the Watchdogs Of Finance
    • www.LawrenceGMcdonald.com