William D. Cohan, author of Money and Power: How Goldman Sachs Came to Rule the World, appeared on NPR’s All Things Considered on March 14th to comment on the controversial New York Times Op-Ed written by former Goldman employee Greg Smith. Cohan also appeared on NPR’s On Point and Bloomberg News to discuss the points raised by Smith’s piece.
Cohan has also contributed an Op-Ed to the Financial Times in which he notes that the most intriguing thing about Smith’s article “…is that it appeared at all. That an executive of Goldman Sachs, filled to the gills with corporate Kool-Aid and a large chunk of the bank’s treasure, would break its century-old omerta and fire off an angry resignation letter about how Goldman no longer lives up to its cherished ideals is simply unprecedented.”
Money and Power reveals the internal schemes that have guided Goldman Sachs 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, Cohan constructs a nuanced, timely portrait of a company that was too big—and too ruthless—to fail. Click to read an excerpt.