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9781472572677

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The collapse of Lehmann Brothers unleashed the crisis which became the Great Recession. It is therefore welcome that Oonagh McDonald has written a clear and analytical account of what happened and why. She has a reader-friendly style and a sharp eye for detail. This book will be helpful to all those interested in finance for practical or academic reasons. Lord Meghnad Desai, Professor Emeritus of Economics at the London School of Economics, UK, and Chairman of the Board of Advisers of the Official Monetary and Financial Institutions Forum

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Dr Oonagh McDonald CBE was a board member of the Securities and Investments Board and subsequently of the Financial Services Authority and of the General Insurance Standards Council. She is currently chairman of a public inquiry into property valuation for the Royal Institute of Chartered Surveyors. She was a Member of Parliament for Thurrock, Essex (1976-1987) and was a member of the front-bench Treasury team from 1983-87. She is the author of a number of books and monographs, including The Future of European Retail Banking: The View from the Top (2002) and Fannie Mae and Freddie Mac: Turning the American Dream into a Nightmare (Bloomsbury, 2012). In 1998, she was awarded the CBE for her services to business and financial regulation.

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