Awards
- Commended for Axiom Business Book Awards (Business Ethics) 2012
Overview
A rare behind-the-scenes look at how Wall Street makes money. The book answers questions people affected by the financial crisis have been waiting for, like how the system works and how to fix it in easy-to-understand language. Confidential conversations reveal what went wrong with the mortgage market and what needs to change from insiders themselves. The book bridges the gap between Main Street and Wall Street and outlines practical solutions for the future. This is the first book in this area to include observations from firsthand insiders rather than just reporters with third-hand accounts.
Full Product Details
Author: Peter Ressler ,
Monika Mitchell ,
Peter Reller
Publisher: FastPencil, Incorporated
Imprint: FastPencil, Incorporated
Dimensions:
Width: 15.20cm
, Height: 1.50cm
, Length: 22.90cm
Weight: 0.276kg
ISBN: 9781607462941
ISBN 10: 160746294
Pages: 240
Publication Date: 16 November 2011
Audience:
General/trade
,
General
Format: Paperback
Publisher's Status: Unknown
Availability: Awaiting stock
Reviews
Less cynical but interesting in its own right, Conversations with Wall Street by Peter Ressler and Monika Mitchell also provides insider knowledge of what happened in 2008 by both victims and perpetrators of the financial crisis. As partners in a Wall Street headhunting firm that served investment bank clients Bear Stearns and Lehman Brothers, the authors saw the crisis unfold up close and personal. They seized the opportunity to talk to traders, investment bankers, hedge fund managers and senior level managers about what happened. Though they don't reveal names of their sources, they delve into their psyches in an attempt to reconnect meaning with Wall Street's role as the lubricant that oils the machinery of society. Coming from a place of compassion, they search for the higher good that might avert a future crisis, a greater purpose than just the pursuit of profits.- Bankrate
Less cynical but interesting in its own right, Conversations with Wall Street by Peter Ressler and Monika Mitchell also provides insider knowledge of what happened in 2008 by both victims and perpetrators of the financial crisis. As partners in a Wall Street headhunting firm that served investment bank clients Bear Stearns and Lehman Brothers, the authors saw the crisis unfold up close and personal. They seized the opportunity to talk to traders, investment bankers, hedge fund managers and senior level managers about what happened. Though they don't reveal names of their sources, they delve into their psyches in an attempt to reconnect meaning with Wall Street's role as the lubricant that oils the machinery of society. Coming from a place of compassion, they search for the higher good that might avert a future crisis, a greater purpose than just the pursuit of profits.<br><br>- Bankrate<br><br>
In process ranging from such business icons as The Wall Street Journal and New York Times to key business magazines and scores of general and business internet reviewers - including Goodreads, etc. Less cynical but interesting in its own right, Conversations with Wall Street by Peter Ressler and Monika Mitchell also provides insider knowledge of what happened in 2008 by both victims and perpetrators of the financial crisis. As partners in a Wall Street headhunting firm that served investment bank clients Bear Stearns and Lehman Brothers, the authors saw the crisis unfold up close and personal. They seized the opportunity to talk to traders, investment bankers, hedge fund managers and senior level managers about what happened. Though they don't reveal names of their sources, they delve into their psyches in an attempt to reconnect meaning with Wall Street's role as the lubricant that oils the machinery of society. Coming from a place of compassion, they search for the higher good that might avert a future crisis, a greater purpose than just the pursuit of profits. - Bankrate Co-authors Peter Ressler and Monika Mitchell have been 20-year Wall Street insiders as partners in an executive search firm. Their book is a page-turning account of the 2007-8 meltdown and continuing unsolved issues that will inevitably lead to the next crises. Woven throughout their analysis are conversations with dozens of top executives from Lehman, Goldman Sachs, Morgan Stanley, AIG, Deutsche Bank, UBS, Citibank, Bank of America, Wells Fargo and many hedge funds and private equity firms. Only the executives' first names are used (for obvious reasons), which makes their recorded interviews with the authors more revealing, with all the vivid expletives un-redacted. We hear first-hand of how Wall Street's culture actually worked based on the buyer beware treatment of sophisticated clients. Pension funds were considered big boys who should do their own due diligence and against whom it was OK to bet that the securities sold to them would blow up. These were the market makers who, unlike the partnerships of yore, regularly took both sides of deals with their often unsuspecting customers while pushing ratings agencies to stamp these toxic products as triple-A. The prevailing culture is reflected in their language: eat what you kill, ripping the face off clients and the jungle rule of survival of the fittest (often incorrectly associated with Charles Darwin rather than originally coined by Herbert Spencer, a British economist of that era who wrote for The Economist ). Many interviewees talked of how the rot began and Wall Street's culture changed beginning in the 1970s, 1980s and gathering speed in the 1990s. Now, most Wall Street firms are publicly traded or aspire to IPOs. Thus, there was now little skin in the game and the velocity of money-making, the rise in compensation and bonuses followed apace. Several of the executives interviewed spoke of their alarm and how they had tried to warn top management at their firms of the excessive risk-taking a Authors blog site Good Business International has fan base of 100K HBO film To Big to Fail airing May 23 depicts Lehman Brother s failure.This book details the back story at Lehmans with insider conversations from senior management. September book Review by Seeking Alpha website (700K users who are highly active in investment.)PR will include national magazines and national and regional news journals, national and international blogging community, national media campaign: radio, TV, web, national book tour, conferences. Media Appearances: Radio: * Money Matters with Brian Kurtz -- Peter and Monika had a briefing with Brian on Nov. 17. The interview aired Nov. 19 on CKWW 580 AM. 43 working to get audio file to send to the team. Media Appearances: Internet: * Seeking Alpha -- 43 secured contributed article opportunity. Peter and Monika working on an article now around How to Fix Wall Street. Seeking Alpha has 1.8 million visitors per month. Peter and Monika will have ar Endorsements: Prof. Joshua M. Greene, Hofstra University, Former SVP, Ruder Finn, Robert Jackson, Advisor on Executive Compensation and deputy to Kenneth R. FeinbergSpecial Master for TARP Executive Compensation Rinaldo Brutoco, Founding President & CEO, World Business Academy Alan M. Webber, Co-Founder, Fast Company magazine Martin Rutte, Co-author Chicken Soup for the Soul at Work
Author Information
Peter Ressler is the CEO of a Wall Street executive search firm, RMG Search, in New York, and an expert on Wall Street human capital with thirty years' experience as a talent broker for the top investment banks and hedge funds, including Goldman Sachs, Lehman Brothers, and Bear Stearns. He is an internationally renowned speaker on business ethics and value-based leadership. He holds a degree in business from Cornell University. Monika Mitchell is the CEO of Good Business International, Inc., in New York, a new media company dedicated to socially sustainable business and named by the Washington Post Leadership Playlist as Standout Company of the Year in 2010. She is an acclaimed leader on better world business and women's empowerment. She pens the popular Economy of Trust blog. She was Chief Operating Officer of theWall Street recruiting firm RMG Search for twelve years.
