PressTVGlobalNews on Jan 17, 2012
In this edition of the show we discuss the book Money and Power: How Goldman Sachs Came to Rule the World, written by William Cohan.
The book’s behind-the-scenes account shows how, supported by the most aggressive and sophisticated PR machine in the financial industry, Goldman Sachs has continually projected an image of being superior to its competitors – smarter, more collegial, more ethical, and more client-focused.
But William Cohan also reveals another way of viewing Goldman – as a secretive money-making machine that has walked an uneasy line between conflict-of-interest and legitimate deal-making for decades.
William Cohan is the first author to chronicle and to interview the leaders of Goldman Sachs since the 2008 crash, and has gained unprecedented access to the firm’s inner circle.
Every living former chief executive of Goldman Sachs has spoken to him, as well as its current chairman and CEO, Lloyd Blankfein. “Money and Power” is a penetrating study yet of these larger-than-life characters and their secretive world: the definitive account of an institution whose public claims of virtue look very much like ruthlessness when exposed to the light of day.