Lawrence G. McDonald's Blog - Posts Tagged "ben"

It was just about a year ago, mid October 2008. New York Times #1 Best Selling Author, Patrick Robinson and I were under way, putting our project in first gear. 173, seventeen hour days later, including Christmas Eve and Day (ditto on New Years) we finished. But I will never ever forget Sunday evening September 14, 2008. That was the night a broken man in tears decided to write "A Colossal Failure of Common Sense" the inside story of the collapse of Lehman Brothers. It was after midnight, I couldn't sleep, I knew it was coming. I tip toed over to the computer and looked for it. A few minutes later it was there; "Lehman Brothers Files Chapter 11 Bankruptcy Protection." It was official, my life was in shreds. I had so much stock, my hopes, my dreams were crushed.

I was down on the mat, I felt like Mohamed Ali hit me with a knockout blow to the chin. I could hear the referee count 7, 8, 9... I had to get up. I've always said quitters never win and winners never quit. A few weeks later I called Patrick and told him I had special access to a brave group of revolutionaries that tried to stop all the madness at Lehman Brothers. He said "are you sure you're ready to do this." I said, "I know there's a lot of risk going after all the bad guys but the truth must be told." He said "we must start quickly." I said "when," he said "I need you here tomorrow night for dinner." The problem was he was on the other side of the Atlantic. The next morning it was cold, rainy and 5am when I left my apartment in midtown Manhattan. I remember sitting there on the tarmac at Newark International Airport and as the Boeng 767 raced down the runway 50, 70, 90, 140 MPH. I felt the nose of the plane lift into the air and I said to myself, "my life is about to change forever."

And as we banked to the northeast the wing of the plane dipped to give me a view of New York city. Through the clouds I looked down and could see the smoldering remains of what was once the greatest merchant bank ever and I said, "It's time to go pick a fight."
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Published on October 11, 2009 18:01 • 357 views • Tags: america, bank, ben, bernanke, brothers, dick, economics, fiance, fuld, geithner, goldman, hank, ken, lehman, lewis, lynch, merrill, paulson, sachs, tim