This book explains the fundamental causes of the bank's failure, including
the inadequacy of the regulatory and supervisory framework. For some, it was the
repeal of the Glass-Steagall Act that was the overriding cause, not just of the
collapse of Lehman Brothers, but of the financial crisis as a whole. The book
argues that the cause is partly to be found both in weak and ineffective
regulation and also in a programme of regulation and supervision that was simply
not fit for the purpose. Lehman Brothers' long history began with three
brothers, immigrants from Germany, who sold selling groceries and dry goods to
local cotton farmers. Dick Fuld, the chairman and CEO, and his senior
management, ignored the increased risks, choosing to rely on over-valuations of
the firm's assets. The book examines the regulation of the Big Five
investment banks in the context of the changes which took place in the structure
of banking after the repeal of the Glass-Steagall Act. It describes the
introduction of the European Union's Consolidated Supervision Directive in
2004. The book examines the whole issue of valuing Lehman's assets and
details the regulations covering appraisals and valuations of real estate,
applicable at the time and to consider Lehman's approach in the light of
these regulations. It argues that that the valuation of Lehman's real
estate assets was problematic to say the least, as the regulators did not
require the investment banks to adopt a recognized methodology of valuation, and
that Lehman's own methods were flawed.
The later stages of the existence of Lehman Brothers were dominated by Dick Fuld, one of the longest-serving chief executives on Wall Street. Fuld's dominance of the company, which he had built up and which he regarded as almost a personal possession, was one of the causes of its ultimate failure.
Lehman Brothers' long history began with three brothers, immigrants from Germany, setting up a small shop in Alabama, selling groceries and dry goods to local cotton farmers. Their business soon evolved into cottontrading. Henry, the eldest brother
Moving between Britain and Jamaica this book examines the world of commerce, consumption and cultivation created and sustained through an engagement with the business of slavery. Tracing the activities of a single extended family – the Hibberts – it explores how the system of slavery impacted on the social, cultural, economic and political landscape of Britain during the eighteenth and nineteenth centuries. Integrating an analysis of the family as political and economic actors with an examination of their activities within the domestic and cultural sphere, the book provides an overview of the different ways in which slavery reshaped society both at home and out in the empire. From relatively humble beginnings in the cotton trade in Manchester, the Hibberts ascended through the ranks of Jamaica’s planter-merchant elite. During the abolition campaigns they were leading proslavery advocates and played a vital role in securing compensation for the slave owners. With a fortune built on slavery, the family invested in country houses, collecting, botany and philanthropy. Slavery profoundly altered the family both in terms of its social position and its intimate structure. The Hibberts’ trans-generational story imbricates the personal and the political, the private and the public, the local and the global. It is both the personal narrative of a family and an analytical frame through which to explore Britain’s participation in, and legacies of, transatlantic slavery. It is a history of trade, colonisation, exploitation, enrichment and the tangled web of relations that gave meaning to the transatlantic world.
and urban specialisation by stage of production
Source: Probate records, 1701–60.
Note: Rural spinning is probably under-emphasised here because spinners are allocated
to town and country per weaver. It is likely that many urban weavers were supplied
by rural spinners: Wadsworth and Mann, CottonTrade, pp. 82–3.
Manchester: Something rich and strange challenges us to see the quintessential
post-industrial city in new ways. Bringing together twenty-three diverse writers
and a wide range of photographs of Greater Manchester, it argues that how we see
the city can have a powerful effect on its future – an urgent question given how
quickly the urban core is being transformed. The book uses sixty different words
to speak about the diversity of what we think of as Manchester – whether the
chimneys of its old mills, the cobbles mostly hidden under the tarmac, the
passages between terraces, or the everyday act of washing clothes in a
laundrette. Unashamedly down to earth in its focus, this book makes the case for
a renewed imaginative relationship that recognises and champions the fact that
we’re all active in the making and unmaking of urban spaces.
because it was financed through the wealth of the cottontrade and the slavery, later forced labour and natural resource
exploitation of British imperialism, often led by the demands
of Manchester’s cotton capitalists. We can no longer ignore the
history of a collection literally financed through the sweat, tears
and blood of enslaved Africans. And we should not ignore how
the collection was stolen from its home and brought to the city
without permission. Like thousands of precious cultural artefacts
plundered from Africa over centuries, it represents the violence
This is the first book-length study of one of the most significant of all British television writers, Jimmy McGovern. The book provides comprehensive coverage of all his work for television including early writing on Brookside, major documentary dramas such as Hillsborough and Sunday and more recent series such as The Street and Accused. Whilst the book is firmly focused on McGovern’s own work, the range of his output over the period in which he has been working also provides something of an overview of the radical changes in television drama commissioning that have taken place during this time. Without compromising his deeply-held convictions McGovern has managed to adapt to an ever changing environment, often using his position as a sought-after writer to defy industry trends. The book also challenges the notion of McGovern as an uncomplicated social realist in stylistic terms. Looking particularly at his later work, a case is made for McGovern employing a greater range of narrative approaches, albeit subtly and within boundaries that allow him to continue to write for large popular audiences. Finally it is worth pointing to the book’s examination of McGovern’s role in recent years as a mentor to new voices, frequently acting as a creative producer on series that he part-writes and part brings through different less-experienced names.
had played no small part in the expansion of the area’s
fortunes. Among those successful merchants was a distinct network of
dissenting religious families working in the cloth and cottontrade.
Non-conformists were still suffering under discriminatory
legislation; barred from political and educational institutions
which might have fostered ambitions towards power, individuals from
in east Lancashire developed rapidly from the
1780s: see Hadfield and Biddle, Canals of North-west England, pp. 243–335.
35 Pred, City Systems, pp. 33–78; Ogborn, Spaces of Modernity, pp. 7–8 and 203–11.
36 Wadsworth, ‘Rochdale woollen trade’; Rodgers, ‘Market areas of Preston’,
37 Schwarz, ‘North-east Lancashire’, pp. 64–5; Wadsworth and Mann, CottonTrade,
pp. 43–5 and 78–87.
38 UBD, volume 4, pp. 755–61.
39 Lepetit, Urban System, pp. 317 and 347; Noble, ‘Regional urban system’, p. 18.
40 Richardson, Regional Growth Theory, pp. 175–96; Pred, City
it as one of the most influential labour newspapers, was no longer working in a fast-changing
market for newspapers and magazines.3 However, its contribution in
helping to focus and bind Lancashire cottontrade unionism should not
be under-estimated. In 1906 Tom Ashton, Secretary of the Oldham
Spinners and President of the Spinners’ Amalgamation, provided a
glowing tribute to the role of the paper and its achievements, a tribute
that was not undeserved, even if it was from an admittedly interested
witness.4 Labour historians have largely neglected the paper