Money, power and corruption — a killer combination. The new book CRASH OF THE TITANS: Greed, Hubris, the Fall of Merrill Lynch and the Near-Collapse of Bank of America, by Greg Farrell, includes all three.
The book, released this week, gives an insider look into the quick and controversial downfall of Merrill Lynch and its merger with Bank of America. According to a press release, “Crash of the Titans is an intimate fly-on-the wall tale of the decline and fall of an American icon and one of the premier brands in financial services. Its wealth of never-before-revealed information and focus on two iconic banks make it the book that puts together all the pieces of the Wall Street disaster.”
Farrell, a correspondent at The Financial Times, performed more than 300 hours of interviews with more than 120 sources to compile enough information to write the non-fiction account. The author used his experiences and sources from both Merrill Lynch and Bank of America to piece together this story of corruption, mismanagement and poor business practices of epic proportion.
Farrell disproves the popular theory that the industry giant fell due to the unexpected downturn of the mortgage market. He reveals insider information on the names at the top of the headlines, including Stanley O’Neal, Osman Semerci, John Thain and Bank of America CEO Ken Lewis. Crash of the Titans gives a minute-by-minute recap of one of the most intense 48 hours in Wall Street history.
About the Author
Greg Farrell was the first journalist to break news of Merrill Lynch’s early 2008 payouts which caught the attention of Andrew Cuomo and resulted in a huge investigation led by the attorney general. He is a correspondent for the Financial Times and has acclaims such as the American Business Press’s Jesse Neal Award for investigative reporting and a recipient of the Knight-Bagehot Fellowship for business journalism.