Greed and Glory on Wall Street: The Fall of the House of Lehman.

AULETTA, Ken. [Ruth Bader Ginsburg].

$4,800.00

Item Number: 146519

New York: Random House, 1986.

First edition of this account of the Lehman Brother takeover, from the library of Justice Ruth Bader Ginsburg with her bookplate to the pastedown. Octavo, original publisher’s half cloth. Signed by Ken Auletta on the front free endpaper. From the library of Ruth Bader Ginsburg. American lawyer and jurist Ruth Bader Ginsburg served as an associate justice of the Supreme Court of the United States from 1993 until her death in 2020 and was responsible for some of the most eventful legal decisions of the past half-century. Nominated by President Bill Clinton in 1993 to replace retiring justice Byron White, Ginsburg became the first Jewish woman and the second woman to serve on the Court, after Sandra Day O’Connor. Ginsburg spent much of her legal career as an advocate for gender equality and women’s rights, winning many arguments before the Supreme Court. During her tenure as associate justice of the Supreme Court, Ginsburg received attention for her fiery and passionate dissents that reflected liberal views of the law. She was popularly dubbed “the Notorious R.B.G.”, a moniker she later embraced. She authored several important majority opinions related to gender discrimination, voting rights, and affirmative action in cases such as United States v. Virginia (1996) which struck down the Virginia Military Institute’s  male-only admissions policy as violating the Equal Protection Clause of the Fourteenth Amendment, Olmstead v. L.C. (1999) in which the Court ruled that mental illness is a form of disability covered under the Americans with Disabilities Act of 1990, and Friends of the Earth, Inc. v. Laidlaw Environmental Services, Inc. (2000) in which the Court held that residents have standing to seek fines for an industrial polluter that affected their interests and that is able to continue doing so. Bookplate of Ruth and Martin Ginsburg to the pastedown. Near fine in a near fine dust jacket. Housed in a custom half morocco clamshell box by the Harcourt Bindery.

Based on probing research, this modern morality tale is an expansion of a 1984 New York Times Magazine article on the ruinous behind-the-scenes struggle between two top officers of the 134-year-old private investment banking firm Lehman Brothers Kuhn Loeb. Auletta (The Art of Corporate Success) recounts in detail the takeover of the traditional and specialized but dissent-ridden and undercapitalized Wall Street company by an outside trader, the recently formed global giant Shearson/American Express. The new conglomerates that emerge from such moves, Auletta maintains, emphasize transactual, service business rather than advisory functions, and short-term gains at the expense of long-range growth plans. Wall Street, he claims, is well on its way to being dominated by a few superpowers that combine all financial services under one roof.