Money and Power

Money and Power

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Cohan, William D. Random House, Inc., 2015
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IN THIS SUMMARY

Money and Power chronicles the story of Goldman, Sachs & Co. from its humble beginnings in 1869 to its eventual position as an international investment banking tour de force. The book details the firm’s various leaders, internal power struggles, skirmishes with federal agencies, and bouts with impending insolvency. William D. Cohan also provides a close-up view of the subprime mortgage collapse of 2008. He details how Goldman Sachs’s investment strategy allowed the firm to escape the economic ruin suffered by many of its contemporaries on Wall Street and how the experience forced the firm to change.