The bestselling author of House of Cards and The Last Tycoons turns his spotlight on Goldman Sachs in Money and Power. Through extensive research and interviews with the inside players, including current CEO Lloyd Blankfein, William D. Cohan constructs a nuanced, timely portrait of Goldman Sachs, the company that was too big—and too ruthless—to fail.
While the Goldman PR machine loudly declares it to be smarter, more ethical, and more profitable than all of its competitors, the 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.
“[The] definitive account of the most profitable and influential investment bank of the modern era.” —The New York Times Book Review
“The best analysis yet of Goldman’s increasingly tangled web of conflicts. . . . The writing is crisp and the research meticulous.” —The Economist
“[A] revelatory account of the rise and rise of Goldman Sachs…. A vast trove of material.” —Financial Times
Click to read an excerpt and to purchase the book. Plus, watch author William D. Cohen discussing Mitt Romney’s Wall Street connections on Bloomberg TV.