Uncontrolled Risk: The Lessons of Lehman Brothers and How Systemic Risk Can Still Bring Down the World Financial System by Mark T. Williams 220 pp., not including 27 pp of Appendix, Notes, and Index (Reprinted from The Analyst, March 2011 issue.) On September 15, 2008, the 158-year-old investment bank, Lehman Brothers, filed for bankruptcy, thereby unleashing a horde of systemic risk effects that continue to bedevil the financial system. In this recently-published investigation into how the collapse of one iconic institution contaminated an entire sector, Mark T. Williams draws some sobering lessons. In the 1990s, author Mark T. Williams worked […]