The second thread is a history of Salomon Brothers and an overview of Wall Street in general, especially how the firm single-handedly created a market for mortgage bonds that made the firm wealthy, only to be outdone by Michael Milken and his junk bonds. This article needs additional citations for verification. While in England, Lewis was invited to a banquet hosted by the Queen Mother , where his cousin, Baroness Linda Monroe von Stauffenberg, one of the organizers of the banquet, purposefully seated him next to the wife of the London managing partner of Salomon Brothers. Works by Michael Lewis. Written by A Blinkin Hunter, aka A. Lewis was an art history student at Princeton University , who nonetheless wanted to break into Wall Street to make money.
Salomon Brothers - Wikipedia
Under the leadership of the family's golden boy heir—William Billy Salomon—the firm expanded its operations in the s, adding a research department hiring the infamous Henry Kaufman a. Lewis portrays the s as an era where government deregulation allowed less-than-scrupulous people on Wall Street to take advantage of others' ignorance, and thus grow extremely wealthy. Subsequently, most of its proprietary trading business was disbanded. The book's name is taken from liar's poker , a high-stakes gambling game popular with the bond traders in the book.
The Spectacular Rise And Fall of Salomon Brothers
Description: Two members of the Salomon Brothers' bond arbitrage , John Meriwether and Myron Scholes , later became a founder and a consultant for Long-Term Capital Management , a hedge fund that collapsed in Lewis was an art history student at Princeton University , who nonetheless wanted to break into Wall Street to make money. Gutfreund quickly climbed the Salomon ranks and was named partner at the young age of Sachs is a member of La Belle Assiette board. However, growing disillusioned with his work, Lewis quit the firm at the beginning of to write this book and become a financial journalist.