Wall Street during the early 2000s, with a focus on Lehman Brothers, one of the oldest and most aggressive investment banks. The mortgage industry saw significant growth due to securitization and government encouragement of homeownership, leading to the bundling and selling of mortgage contracts to institutional buyers worldwide.
Lehman’s executives, such as Anthony Fry and Dick Fulton, held differing opinions regarding the firm’s borrowing practices, leading to disagreements and tension. Lehman’s CEO, who controlled everything, rewarded loyalty and incentivized risk-taking, leading to a psychology of making as much money as quickly as possible.