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Liar's Poker: Rising Through the Wreckage on Wall Street Chapter Summary & Analysis - When Bad Things Happen to Rich People 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 556 words
(approx. 2 pages at 300 words per page)
Purchase our Liar's Poker: Rising Through the Wreckage on Wall Street Study Guide

When Bad Things Happen to Rich People Summary and Analysis

Two weeks after Perelman's take-over bid the author is instructed that Salomon Brothers' new priority is junk bonds. The first transaction is a bridge loan with Goldman Sachs for the period between Southland Corporation management's $4.9 billion buyout of 7-Eleven stores and the sale of Southland Corporation junk bonds to pay back the loan. Michael's success with Olympia & York assures him the reputation to be able to sell these bonds too. Salomon's junk bond specialists assure him it is a good investment, since they have the most to gain or lose. Michael breaks his resolution to not sell things people should not buy within months. Gutfreund is convinced he can show Salomon to be a force on the market and the Southland junk is his example. Michael is required to call his French customer...

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This section contains 556 words
(approx. 2 pages at 300 words per page)
Purchase our Liar's Poker: Rising Through the Wreckage on Wall Street Study Guide
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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.
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