A Colossal Failure of Common Sense
Patrick Robinson
 The book is highly critical of Richard Fuld, Henry Paulson, and the Gramm–Leach–Bliley Act, a 1999 act of Congress signed by former United States President Bill Clinton that repealed portions of the Glass–Steagall Act of 1933. The book contains an account of how McDonald, after attending the University of Massachusetts Amherst, selling pork chops, and self-teaching himself the material required to pass the General Securities Representative Exam, went on to develop the website ConvertBond.com, which was later purchased by Morgan Stanley. The author's stated expertise, in the convertible bond market, was what allowed him to create the website ConvertBond.com during the dot-com bubble, and successfully sell it to Morgan Stanley before the Internet bubble burst. It was while he was working at Morgan Stanley that McDonald was offered a job as vice-president at Lehman Brothers. The book characterizes Richard Fuld as being out of touch, smug, and a ruthless CEO with a short temper and a penchant for rage. The book sarcastically refers to Fuld as "his majesty," "god-like," and a "spiritual leader." McDonald believes that the United States government should have saved Lehman Brothers, and that Dick Fuld falsely believed that the United States government would save the company after having a meeting with Henry Paulson in the spring of 2008, which led him to engage in unnecessarily risky behavior and reject an offer of $18 per share from the Korea Development Bank as late as August 2008.