Driving Home: An American Journey
by Jonathan Raban
Pantheon / Knopf Doubleday / Random House
Hardcover
From the publisher website:
For more than thirty years, Jonathan Raban has written with infectious fascination about people and places in transition or on the margins, about journeys undertaken and destinations never quite reached, and, as an Englishman transplanted in Seattle, about what it means to feel rooted in America. Spanning two decades, Driving Home charts a course through the Pacific Northwest, American history, and current events as witnessed by “a super-sensitive, all-seeing eye. Raban spots things we might otherwise miss; he calls up the apt metaphors that transform things into phenomena. He is one of our most gifted observers” (Newsday).- - - - -
Stops en route include a Missoula bar, a Tea Party convention in Nashville hosted by Sarah Palin, the Mississippi in full flood, a trip to Hawaii with his daughter, a steelhead river in the Cascades, and the hidden corners of his adopted hometown, Seattle. He deftly explores public and personal spaces, poetry and politics, geography and catastrophe, art and economy, and the shifts in various arenas that define our society. Whether the topic is Robert Lowell or Barack Obama, or how various painters, explorers, and homesteaders have engaged with our mythical and actual landscape, he has an outsider’s eye for the absurd, and his tone is intimate, never nostalgic, and always fresh.
Frank, witty, and provocative, Driving Home is part essay collection, part diary—and irresistibly insightful about America’s character, contradictions, and idiosyncrasies.
Crash of the Titans: Greed, Hubris, the Fall of Merrill Lynch, and the Near-Collapse of Bank of America
by Greg Farrell
Crown Business / Crown Publishing / Random House
Trade Paperback
From the publisher website:
The intimate, fly-on-the wall tale of the decline and fall of an America icon- - - - -
With one notable exception, the firms that make up what we know as Wall Street have always been part of an inbred, insular culture that most people only vaguely understand. The exception was Merrill Lynch, a firm that revolutionized the stock market by bringing Wall Street to Main Street, setting up offices in far-flung cities and towns long ignored by the giants of finance. With its “thundering herd” of financial advisers, perhaps no other business, whether in financial services or elsewhere, so epitomized the American spirit. Merrill Lynch was not only “bullish on America,” it was a big reason why so many average Americans were able to grow wealthy by investing in the stock market.
Merrill Lynch was an icon. Its sudden decline, collapse, and sale to Bank of America was a shock. How did it happen? Why did it happen? And what does this story of greed, hubris, and incompetence tell us about the culture of Wall Street that continues to this day even though it came close to destroying the American economy? A culture in which the CEO of a firm losing $28 billion pushes hard to be paid a $25 million bonus. A culture in which two Merrill Lynch executives are guaranteed bonuses of $30 million and $40 million for four months’ work, even while the firm is struggling to reduce its losses by firing thousands of employees.
Based on unparalleled sources at both Merrill Lynch and Bank of America, Greg Farrell’s Crash of the Titans is a Shakespearean saga of three flawed masters of the universe. E. Stanley O’Neal, whose inspiring rise from the segregated South to the corner office of Merrill Lynch—where he engineered a successful turnaround—was undone by his belief that a smooth-talking salesman could handle one of the most difficult jobs on Wall Street. Because he enjoyed O’Neal’s support, this executive was allowed to build up an astonishing $30 billion position in CDOs on the firm’s balance sheet, at a time when all other Wall Street firms were desperately trying to exit the business. After O’Neal comes John Thain, the cerebral, MIT-educated technocrat whose rescue of the New York Stock Exchange earned him the nickname “Super Thain.” He was hired to save Merrill Lynch in late 2007, but his belief that the markets would rebound led him to underestimate the depth of Merrill’s problems. Finally, we meet Bank of America CEO Ken Lewis, a street fighter raised barely above the poverty line in rural Georgia, whose “my way or the highway” management style suffers fools more easily than potential rivals, and who made a $50 billion commitment over a September weekend to buy a business he really didn’t understand, thus jeopardizing his own institution.
The merger itself turns out to be a bizarre combination of cultures that blend like oil and water, where slick Wall Street bankers suddenly find themselves reporting to a cast of characters straight out of the Beverly Hillbillies. BofA’s inbred culture, which perceived New York banks its enemies, was based on loyalty and a good-ol’-boy network in which competence played second fiddle to blind obedience.
Crash of the Titans is a financial thriller that puts you in the theater as the historic events of the financial crisis unfold and people responsible for billion of dollars of other people’s money gamble recklessly to enhance their power and their paychecks or to save their own skins. Its wealth of never-before-revealed information and focus on two icons of corporate America make it the book that puts together all the pieces of the Wall Street disaster.
The Fall of the House of Zeus: The Rise and Ruin of America's Most Powerful Trial Lawyer
by Curtis Wilkie
Broadway Books / Crown Publishing
Trade Paperback
From the publisher website:“Over the past four decades no reporter has critiqued the American South with such evocative sensitivity and bedrock honesty as Curtis Wilkie.”
—Douglas Brinkley
The Fall of the House of Zeus tells the story of Dickie Scruggs, arguably the most successful plaintiff's lawyer in America. A brother-in-law of Trent Lott, the former U.S. Senate Majority Leader, Scruggs made a fortune taking on mass tort lawsuits against “Big Tobacco” and the asbestos industries. He was hailed by Newsweek as a latter day Robin Hood, and portrayed in the movie, The Insider, as a dapper aviator-lawyer. Scruggs’ legal triumphs rewarded him lavishly, and his success emboldened both his career maneuvering and his influence in Southern politics--but at a terrible cost, culminating in his spectacular fall, when he was convicted for conspiring to bribe a Mississippi state judge.
Here Mississippi is emblematic of the modern South, with its influx of new money and its rising professional class, including lawyers such as Scruggs, whose interests became inextricably entwined with state and national politics.
Based on extensive interviews, transcripts, and FBI recordings never made public, The Fall of the House of Zeus exposes the dark side of Southern and Washington legal games and power politics: the swirl of fixed cases, blocked investigations, judicial tampering, and a zealous prosecution that would eventually ensnare not only Scruggs but his own son, Zach, in the midst of their struggle with insurance companies over Hurricane Katrina damages. In gripping detail, Curtis Wilkie crafts an authentic legal thriller propelled by a “welter of betrayals and personal hatreds,” providing large supporting parts for Trent Lott and Jim Biden, brother of then-Senator Joe, and cameos by John McCain, Al Gore, and other DC insiders and influence peddlers.
Above all, we get to see how and why the mighty fail and fall, a story as gripping and timeless as a Greek tragedy.
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