Forgot your password?  

Liar's Poker: Rising Through the Wreckage on Wall Street Chapter Summary & Analysis - The Salomon Diet Summary

Michael Lewis (author)
This Study Guide consists of approximately 47 pages of chapter summaries, quotes, character analysis, themes, and more - everything you need to sharpen your knowledge of Liar's Poker.
This section contains 611 words
(approx. 3 pages at 300 words per page)
Purchase our Liar's Poker: Rising Through the Wreckage on Wall Street Study Guide

The Salomon Diet Summary and Analysis

Dinner at Le Perigord at the end of 1985 when Gutfreund confronts the mortgage traders over their pay marks a beginning disintegration of the mortgage department. The money saved by refusing Rubin's million dollar demands can hire twelve others that look the same. Performance is not the same. As these competitive traders leave for higher pay at other firms Salomon loses its Wall Street mortgage monopoly. Eventually other firms become more competitive. Salomon's non-competitive policies let qualified traders go to other mortgage departments with skills and contacts learned from Ranieri & Co. Margins get slimmer as the market develops and Salomon loses its monopoly. The metaphor of a bicycle built for two ad run in the Wall Street Journal shows a fat man on the front seat slumping and exhausted and a thin man on the rear seat pedaling energetically. Ironically, the collateralized...

(read more from the The Salomon Diet Summary)

This section contains 611 words
(approx. 3 pages at 300 words per page)
Purchase our Liar's Poker: Rising Through the Wreckage on Wall Street Study Guide
Copyrights
Liar's Poker: Rising Through the Wreckage on Wall Street from BookRags and Gale's For Students Series. ©2005-2006 Thomson Gale, a part of the Thomson Corporation. All rights reserved.
Follow Us on Facebook