Money and Power by William D Cohan

Money and Power by William D Cohan

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.

COHAN is the bestselling author of The Last Tycoons, which won the 2007 FT/Goldman Sachs Business Book of the Year Award. He is a former top Wall Street investment banker. He writes for Vanity Fair, Fortune, ArtNews, The Financial Times, the Washington Post, and the Daily Beast, and is an online columnist for The New York Times. He's also a regular on CNN, Bloomberg TV, and CNBC, as well as a number of NPR broadcasts.