|  | Author: William D. Cohan
Publisher: Doubleday
List Price: $27.95
Buy Used: $5.50
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Rating:  78 reviews
Sales Rank: 3124
Languages: English (Original Language), English (Unknown), English (Published)
Media: Hardcover
Edition: First Edition
Pages: 480
Number Of Items: 1
Shipping Weight (lbs): 2
Dimensions (in): 9.4 x 6 x 1.3
ISBN: 0385528264
Dewey Decimal Number: 332.660973
EAN: 9780385528269
ASIN: 0385528264
Publication Date: March 10, 2009
Availability: Usually ships in 1-2 business days
Condition: In great shape, may have light wear.
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| Customer Reviews:
Showing reviews 21-25 of 78
 Rent A Beach House & Read This Story~! July 13, 2009
CURT KAMMERAAD (The Colorado Plateau)
3 out of 6 found this review helpful
I usually spend more time with reviews of books. This one is an exception. I won't say much except to say that it is a really interesting book and it is well written. Sometimes you can feel the pulse of what happened to BEAR STEARNS and others in their midst.
One small fault is what seems to me to be a "glamorization" of major characters--Jimmy Cayne, Alan "Ace" Greenberg, Alan Schwartz, et al. The author is clearly enamored with these and other characters and it comes through. The problem with that is rather fundamental--many in the world would consider these and related characters to be amoral at best, surely not anyone worthy of being idolized. That, surely, is a matter of opinion and the author has his as well.
I read the fast moving first part, which centers around the so-called BEAR STEARNS and JPMORGAN shotgun wedding, in a day. A real page turner. Part II of the book turns to a history of major characters and their rise with and within BEAR STEARNS. It slows down a bit. Then we turn to Part III, the fixed income side of BEAR STEARNS, and the reality of mortgage-backed securities, tranches, etc, and the coming tsunami to hit the financial world. The detail is amazing, lots of facts and a rare chronology of events. It slows down even more here but one must realize it takes time to chew on a good steak. If one prefers the slanted and corrupted way of, say, FOX NEWS, and its parade of salivating propagandists, sensational press, bite-sized bullets--this is not the book for you~!
I would rent a beach house or mountain cabin, and read this book over a weekend. Open the windows. Pull up a really comfortable chair. Load the fridge with snacks and drinks, have tea and coffee nearby. And then just have at it. Readers of well written books will know what I mean. I really enjoy books like this and recommend it highly, with the caveat that one must, depending upon persuasion, look past the deliberate glamorization of figures many would consider to have the scruples of sharks in a frenzied and frothing blood bath~! In some cases this is really sickening as human beings that some might consider to be more reptile than human fight and preen and posture over $30 million plus paychecks, largely for steering a company into a position to destroy a world economy. You have to look past that part--that salivating and shameless glamour. It's worth the effort.
Other than that, this is one of the best books I have read in a long time. It reminded me of Bob Woodward's "Veil," when newly released, when I was a student of economics in the Pacific Northwest, reading in the midst of the giant Sequoia's, with nobody around but the forest dwellers that lived there.
 Very interesting, but requires some knowledge of banking July 1, 2009
Andrew Purcell (Albany, NY)
3 out of 5 found this review helpful
I bought this book to branch out a little bit, and partly based on the review on the back cover that said "breezy and highly readable." It turns out that that review was referring to The Last Tycoons, and not this book.
Although I enjoyed the story of Bear Stearns, I struggled to understand a lot of the concepts that Cohan talks about or mentions casually. I did not know what a repo market, an option, a margin call or a collateralized debt obligation (CDO) was. For most of the first part of the book, I was busy looking things up on Investopedia.com. By the end, I was getting the hang of it, but it still wasn't easy for me to follow everything that was going on.
Overall, I DID like this book, and I learned quite a bit about how the markets work (and don't work). House of Cards has inspired me to read more books about finance too, so if you're looking for a "gateway" book and don't mind looking up a few things, then you will probably enjoy it. For a lighter reader without a banking background though, forget it.
 Wretched Excess and Hubris July 1, 2009
A Joyful Reader
1 out of 1 found this review helpful
Boy, am I ever glad I didn't purchase this 26 part audiobook! That I listened to it is bad enough, havng gotten it through our library. As one still seeking to understand how our financial institutions could have gone so badly off track, I listened hoping to get more than sophomoric dialogue and inconsequential commentary into the leisure-time pursuits of the Wall Street CEO's and CFO's who led, not only our nation's investors, but the world's financial markets, into near ruin. Cohen is a victim of his own hubris and excess - an important story poorly told, albeit with colorful language and gossipy insider revelations. Don't waste your time (or your money)!
Could have been better June 29, 2009
trainreader (Montclair, N.J.)
3 out of 4 found this review helpful
"House of Cards," divided into three major sections, describes the last days of Bear Stearns and the decades leading up to it. The author attempts to convince the reader that the demise of Bear Stearns was caused by the big personalities who led the company and the recklessness by which they pursued Wall Street generated wealth. But, of course, the author was wrong: similar companies, that the author claimed were more solidly grounded, also ended up collapsing, and for the same reason: they all decided it was a good idea to rely on the myth that real estate values would keep rising and that mortgages given to individuals with credit risks, collateralized by this real estate, was a safe investment. Of course, we all know what happened.
In any event, "House of Cards" could have greatly benefitted from two features: first an appendix summarizing/defining the players involved, the financial tool being discussed, etc. I simply could not keep track of it all and really could have used this. In fact, I think the natural audience for this book is people who have worked in the financial industry. Second, I really can't understand why photographs of the major individuals weren't included. Jimmy Cayne, Ace Greenberg, etc, etc - it would have been nice to be able to accessibly visualize these people while reading. (Pictures also nicely give the reader a break from the narrative).
In fact, I think before one reads "House of Cards," one should look up some information of Bear Stearns and the principle characters involved. That will help the reader get through this sometimes overly challenging book. Then again, if one researches Bear Stearns on the internet, s/he probably doesn't need to read the book at all.
 Fascinating and Frightening June 25, 2009
Hunter Piermont (Chicago, IL)
1 out of 2 found this review helpful
Well written description of the events leading to the collapse; if you enjoyed either When Genius Failed by Lowenstein or The Smartest Guys in the Room by McLean and Elkind, you should enjoy this one. I'm always somewhat amazed at the characteristics that the perpetrators of such events have in common: hubris in the extreme, ego in the extreme, and complete denial of the situation. Utter irresponsibility while insisting just the opposite. There is something for most here; those that understand the finance and the business will enjoy, but also those only interested in the "Bonfire of the Vanities" type stuff will also be intrigued...
Showing reviews 21-25 of 78
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