Money and Power - How Goldman Sachs Came to Rule the World-logo

Money and Power - How Goldman Sachs Came to Rule the World

William D. Cohan

From the bestselling, prize-winning author of THE LAST TYCOONS and HOUSE OF CARDS, a revelatory history of Goldman Sachs, the most dominant, feared, and controversial investment bank in the world For much of its storied 142-year history, Goldman Sachs has projected an image of being better than its competitors--smarter, more collegial, more ethical, and far more profitable. The firm--buttressed by the most aggressive and sophisticated p.r. machine in the financial industry--often boasts of "The Goldman Way," a business model predicated on hiring the most talented people, indoctrinating them in a corporate culture where partners stifle their egos for 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 company composed of "cyborgs" who are kept in line by an internal "reputational risk department" staffed by former CIA operatives and private investigators; 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 financial ruin of the Great Recession worse. As William D. Cohan shows in his riveting chronicle of Goldman's rise to the summit of world capitalism, the firm has shown a remarkable ability to weather financial crises, congressional, federal and SEC investigations, and numerous lawsuits, all with its reputation and its enormous profits intact. By reading thousands of pages of government documents, court cases, SEC filings, Freedom of Information Act papers and other sources, and conducting over 100 interviews, including interviews with clients, competitors, regulators, current and former Goldman employees (including the six living men who have run Go

From the bestselling, prize-winning author of THE LAST TYCOONS and HOUSE OF CARDS, a revelatory history of Goldman Sachs, the most dominant, feared, and controversial investment bank in the world For much of its storied 142-year history, Goldman Sachs has projected an image of being better than its competitors--smarter, more collegial, more ethical, and far more profitable. The firm--buttressed by the most aggressive and sophisticated p.r. machine in the financial industry--often boasts of "The Goldman Way," a business model predicated on hiring the most talented people, indoctrinating them in a corporate culture where partners stifle their egos for 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 company composed of "cyborgs" who are kept in line by an internal "reputational risk department" staffed by former CIA operatives and private investigators; 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 financial ruin of the Great Recession worse. As William D. Cohan shows in his riveting chronicle of Goldman's rise to the summit of world capitalism, the firm has shown a remarkable ability to weather financial crises, congressional, federal and SEC investigations, and numerous lawsuits, all with its reputation and its enormous profits intact. By reading thousands of pages of government documents, court cases, SEC filings, Freedom of Information Act papers and other sources, and conducting over 100 interviews, including interviews with clients, competitors, regulators, current and former Goldman employees (including the six living men who have run Go
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From the bestselling, prize-winning author of THE LAST TYCOONS and HOUSE OF CARDS, a revelatory history of Goldman Sachs, the most dominant, feared, and controversial investment bank in the world For much of its storied 142-year history, Goldman Sachs has projected an image of being better than its competitors--smarter, more collegial, more ethical, and far more profitable. The firm--buttressed by the most aggressive and sophisticated p.r. machine in the financial industry--often boasts of "The Goldman Way," a business model predicated on hiring the most talented people, indoctrinating them in a corporate culture where partners stifle their egos for 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 company composed of "cyborgs" who are kept in line by an internal "reputational risk department" staffed by former CIA operatives and private investigators; 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 financial ruin of the Great Recession worse. As William D. Cohan shows in his riveting chronicle of Goldman's rise to the summit of world capitalism, the firm has shown a remarkable ability to weather financial crises, congressional, federal and SEC investigations, and numerous lawsuits, all with its reputation and its enormous profits intact. By reading thousands of pages of government documents, court cases, SEC filings, Freedom of Information Act papers and other sources, and conducting over 100 interviews, including interviews with clients, competitors, regulators, current and former Goldman employees (including the six living men who have run Go

Language:

English

Narrators:

Rob Shapiro

Length:

30h 13m


Chapters

Chapter 1
Chapter 1

00:18


Chapter 2
Chapter 2

06:28


Chapter 3
Chapter 3

06:19


Chapter 4
Chapter 4

07:52


Chapter 5
Chapter 5

08:09


Chapter 6
Chapter 6

07:24


Chapter 7
Chapter 7

06:08


Chapter 8
Chapter 8

06:05


Chapter 9
Chapter 9

06:50


Chapter 10
Chapter 10

06:55


Chapter 11
Chapter 11

06:11


Chapter 12
Chapter 12

06:04


Chapter 13
Chapter 13

06:17


Chapter 14
Chapter 14

05:01


Chapter 15
Chapter 15

08:09


Chapter 16
Chapter 16

05:50


Chapter 17
Chapter 17

07:03


Chapter 18
Chapter 18

07:53


Chapter 19
Chapter 19

06:48


Chapter 20
Chapter 20

06:56


Chapter 21
Chapter 21

08:17


Chapter 22
Chapter 22

07:34


Chapter 23
Chapter 23

08:09


Chapter 24
Chapter 24

08:03


Chapter 25
Chapter 25

07:11


Chapter 26
Chapter 26

06:50


Chapter 27
Chapter 27

06:55


Chapter 28
Chapter 28

07:58


Chapter 29
Chapter 29

06:02


Chapter 30
Chapter 30

06:56


Chapter 31
Chapter 31

06:32


Chapter 32
Chapter 32

07:04


Chapter 33
Chapter 33

06:43


Chapter 34
Chapter 34

07:52


Chapter 35
Chapter 35

07:35


Chapter 36
Chapter 36

07:55


Chapter 37
Chapter 37

04:29


Chapter 38
Chapter 38

05:30


Chapter 39
Chapter 39

06:11


Chapter 40
Chapter 40

05:34


Chapter 41
Chapter 41

06:33


Chapter 42
Chapter 42

08:50


Chapter 43
Chapter 43

06:52


Chapter 44
Chapter 44

06:01


Chapter 45
Chapter 45

06:13


Chapter 46
Chapter 46

06:24


Chapter 47
Chapter 47

05:48


Chapter 48
Chapter 48

06:58


Chapter 49
Chapter 49

06:37


Chapter 50
Chapter 50

06:51


Chapter 51
Chapter 51

05:45


Chapter 52
Chapter 52

05:01


Chapter 53
Chapter 53

05:11


Chapter 54
Chapter 54

06:58


Chapter 55
Chapter 55

08:09


Chapter 56
Chapter 56

06:26


Chapter 57
Chapter 57

07:19


Chapter 58
Chapter 58

06:03


Chapter 59
Chapter 59

05:49


Chapter 60
Chapter 60

05:07


Chapter 61
Chapter 61

06:02


Chapter 62
Chapter 62

06:14


Chapter 63
Chapter 63

05:11


Chapter 64
Chapter 64

06:24


Chapter 65
Chapter 65

08:03


Chapter 66
Chapter 66

08:25


Chapter 67
Chapter 67

06:04


Chapter 68
Chapter 68

06:03


Chapter 69
Chapter 69

05:23


Chapter 70
Chapter 70

08:45


Chapter 71
Chapter 71

07:39


Chapter 72
Chapter 72

07:19


Chapter 73
Chapter 73

05:28


Chapter 74
Chapter 74

07:54


Chapter 75
Chapter 75

06:29


Chapter 76
Chapter 76

06:43


Chapter 77
Chapter 77

06:09


Chapter 78
Chapter 78

07:27


Chapter 79
Chapter 79

06:49


Chapter 80
Chapter 80

06:09


Chapter 81
Chapter 81

06:44


Chapter 82
Chapter 82

04:42


Chapter 83
Chapter 83

05:08


Chapter 84
Chapter 84

06:09


Chapter 85
Chapter 85

04:54


Chapter 86
Chapter 86

07:06


Chapter 87
Chapter 87

06:58


Chapter 88
Chapter 88

05:24


Chapter 89
Chapter 89

09:30


Chapter 90
Chapter 90

06:44


Chapter 91
Chapter 91

08:17


Chapter 92
Chapter 92

09:28


Chapter 93
Chapter 93

07:04


Chapter 94
Chapter 94

07:09


Chapter 95
Chapter 95

06:56


Chapter 96
Chapter 96

05:35


Chapter 97
Chapter 97

06:23


Chapter 98
Chapter 98

06:28


Chapter 99
Chapter 99

07:33


Chapter 100
Chapter 100

05:13


Chapter 101
Chapter 101

05:59


Chapter 102
Chapter 102

07:06


Chapter 103
Chapter 103

06:24


Chapter 104
Chapter 104

05:51


Chapter 105
Chapter 105

05:11


Chapter 106
Chapter 106

07:05


Chapter 107
Chapter 107

05:04


Chapter 108
Chapter 108

07:31


Chapter 109
Chapter 109

05:15


Chapter 110
Chapter 110

05:36


Chapter 111
Chapter 111

05:52


Chapter 112
Chapter 112

05:45


Chapter 113
Chapter 113

07:51


Chapter 114
Chapter 114

05:58


Chapter 115
Chapter 115

05:43


Chapter 116
Chapter 116

07:55


Chapter 117
Chapter 117

06:53


Chapter 118
Chapter 118

06:42


Chapter 119
Chapter 119

06:29


Chapter 120
Chapter 120

05:42


Chapter 121
Chapter 121

07:18


Chapter 122
Chapter 122

06:31


Chapter 123
Chapter 123

07:33


Chapter 124
Chapter 124

09:00


Chapter 125
Chapter 125

05:22


Chapter 126
Chapter 126

06:04


Chapter 127
Chapter 127

05:26


Chapter 128
Chapter 128

06:33


Chapter 129
Chapter 129

06:40


Chapter 130
Chapter 130

05:17


Chapter 131
Chapter 131

04:27


Chapter 132
Chapter 132

05:36


Chapter 133
Chapter 133

07:24


Chapter 134
Chapter 134

07:12


Chapter 135
Chapter 135

04:51


Chapter 136
Chapter 136

05:20


Chapter 137
Chapter 137

06:54


Chapter 138
Chapter 138

05:50


Chapter 139
Chapter 139

05:40


Chapter 140
Chapter 140

04:23


Chapter 141
Chapter 141

06:44


Chapter 142
Chapter 142

05:00


Chapter 143
Chapter 143

07:48


Chapter 144
Chapter 144

05:20


Chapter 145
Chapter 145

05:42


Chapter 146
Chapter 146

05:31


Chapter 147
Chapter 147

07:06


Chapter 148
Chapter 148

06:48


Chapter 149
Chapter 149

05:55


Chapter 150
Chapter 150

06:20


Chapter 151
Chapter 151

07:23


Chapter 152
Chapter 152

06:53


Chapter 153
Chapter 153

05:50


Chapter 154
Chapter 154

06:14


Chapter 155
Chapter 155

05:49


Chapter 156
Chapter 156

05:58


Chapter 157
Chapter 157

06:25


Chapter 158
Chapter 158

05:55


Chapter 159
Chapter 159

05:57


Chapter 160
Chapter 160

05:02


Chapter 161
Chapter 161

05:08


Chapter 162
Chapter 162

04:55


Chapter 163
Chapter 163

04:20


Chapter 164
Chapter 164

05:33


Chapter 165
Chapter 165

08:05


Chapter 166
Chapter 166

07:29


Chapter 167
Chapter 167

06:58


Chapter 168
Chapter 168

05:32


Chapter 169
Chapter 169

08:25


Chapter 170
Chapter 170

05:21


Chapter 171
Chapter 171

06:58


Chapter 172
Chapter 172

06:14


Chapter 173
Chapter 173

08:30


Chapter 174
Chapter 174

08:12


Chapter 175
Chapter 175

06:53


Chapter 176
Chapter 176

07:12


Chapter 177
Chapter 177

07:18


Chapter 178
Chapter 178

06:58


Chapter 179
Chapter 179

08:35


Chapter 180
Chapter 180

07:32


Chapter 181
Chapter 181

07:56


Chapter 182
Chapter 182

08:21


Chapter 183
Chapter 183

08:40


Chapter 184
Chapter 184

07:17


Chapter 185
Chapter 185

07:14


Chapter 186
Chapter 186

05:37


Chapter 187
Chapter 187

07:13


Chapter 188
Chapter 188

06:09


Chapter 189
Chapter 189

07:07


Chapter 190
Chapter 190

07:25


Chapter 191
Chapter 191

05:31


Chapter 192
Chapter 192

08:21


Chapter 193
Chapter 193

06:05


Chapter 194
Chapter 194

07:47


Chapter 195
Chapter 195

05:07


Chapter 196
Chapter 196

06:49


Chapter 197
Chapter 197

07:36


Chapter 198
Chapter 198

09:03


Chapter 199
Chapter 199

05:40

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