From the bestselling, prize-winning author of HOUSE OF CARDS, a revelatory history of Goldman Sachs, the most dominant, controversial and feared investment bank in the world Goldman Sachs has always projected an image of being better than its competitors. The firm--buttressed by an aggressive and sophisticated PR machine--often boasts of "The Goldman Way," a business model predicated on hiring the most talented people, indoctrinating them in a corporate culture of "the greater good," and honoring the 14 Principles, the first of which is "Our clients' interests always come first." But there is another way of viewing Goldman -- a secretive money-making machine that has straddled the line between conflict-of-interest and legitimate deal-making for decades; a firm that has exerted undue influence over government since the early part of the 20th century; a workplace rife with brutal power struggles; a Wall Street titan whose clever bet against the mortgage market in 2007 -- a bet not revealed to its clients -- may have made the Great Recession worse. The firm has also shown a remarkable ability to weather financial crises, congressional, federal and SEC investigations, and numerous lawsuits, all with its reputation and enormous profits intact. By reading thousands of pages of government documents and conducting over 100 interviews, including those with clients, competitors, regulators, current and former Goldman employees (as well as the six living men who have run Goldman), Cohan has constructed a vivid narrative that looks behind the veil of secrecy to reveal how Goldman has become so profitable, and so powerful. William D. Cohan is the author of the New York Times bestsellers House of Cards and The Last Tycoons, which won the 2007 FT/Goldman Sachs Business Book of the Year Award. He writes frequently for Vanity Fair, The New York Times, The Financial Times, Fortune, The Atlantic, and the Washington Post . A former investment banker, Cohan is a graduate of Duke University, Columbia University's School of Journalism and Graduate School of Business

zlib/Biography & Autobiography/Business & Finance/William D. Cohan/Money and Power_12220115.fb2

Cohan, William D.

Bantam Doubleday Dell Books for Young Readers

Random House, Incorporated

Delacorte Press

Anchor Books

1st ed., New York [N.Y.], New York State, 2011

Place of publication not identified, 2011

1st Anchor books ed, New York, NY, 2012

United States, United States of America

Reprint, 2011

Includes bibliographical references and index.
Description based on print version record.

The bestselling author of the acclaimed House of Cards and The Last Tycoons turns his spotlight on to Goldman Sachs and the controversy behind its success.
From the outside, Goldman Sachs is a perfect company. The Goldman PR machine loudly declares it to be smarter, more ethical, and more profitable than all of its competitors. Behind closed doors, however, the firm constantly straddles the line between conflict of interest and legitimate deal making, wields significant influence over all levels of government, and upholds a culture of power struggles and toxic paranoia. And its clever bet against the mortgage market in 2007—unknown to its clients—may have made the financial ruin of the Great Recession worse. Money and Power reveals the internal schemes that have guided the bank from its founding through its remarkable windfall during the 2008 financial crisis. Through extensive research and interviews with the inside players, including current CEO Lloyd Blankfein, William Cohan constructs a nuanced, timely portrait of Goldman Sachs, the company that was too big—and too ruthless—to fail.

The Pyrrhic victory
A family business
The apostle of prosperity
The politician
The value of friendship
"What is inside information?"
The biggest man on the block
Caveat emptor
The Goldman way
A formula that works
Goldman sake
Busted
Money
Power
The college of cardinals
$10 billion or bust
The glorious revolution
It's too much fun being CEO of Goldman Sachs
Alchemy
Getting closer to home
The fabulous fab
Selling to widows and orphans
Meltdown
Goldman gets paid
God's work.

2021-04-22