Jump to ContentJump to Main Navigation
Why Some Firms Thrive While Others FailGovernance and Management Lessons from the Crisis$
Users without a subscription are not able to see the full content.

Thomas H. Stanton

Print publication date: 2012

Print ISBN-13: 9780199915996

Published to Oxford Scholarship Online: September 2012

DOI: 10.1093/acprof:oso/9780199915996.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2017. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a monograph in OSO for personal use (for details see http://www.oxfordscholarship.com/page/privacy-policy).date: 15 December 2017

Coping with the Crisis

Coping with the Crisis

Chapter:
(p.43) 3 Coping with the Crisis
Source:
Why Some Firms Thrive While Others Fail
Author(s):

Thomas H. Stanton

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199915996.003.0003

Chapter 3 looks at four firms that successfully withstood the crisis: JPMorgan Chase, Goldman Sachs, Wells Fargo, and Toronto Dominion Bank (TD Bank), including their preparation, responses to the crisis, and effects of the crisis on them. These firms dealt in different ways with the period before the crisis and the crisis itself. They possessed discipline and long-term perspective, robust communications and information systems, capacity to respond effectively to early warning signs, and a process of constructive dialogue between business units and risk managers; each of the successful firms applied these according to its distinctive culture. Unsuccessful firms lacked many or all of these attributes. Unsuccessful firms included those that received massive government infusions of support (Citigroup, Bank of America, Fannie Mae, Freddie Mac, UBS, and AIG), were merged on disadvantageous terms (Bear, Countrywide), or simply went out of business (WaMu, Lehman, IndyMac).

Keywords:   Fannie Mae, WaMu, Lehman Brothers, Countrywide, AIG, JPMorgan Chase, Goldman Sachs, Toronto Dominion Bank, information systems, discipline

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .