Cohan's "Money and Power": More Required Reading For Future

by Derek Loosvelt | April 08, 2011

In William D. Cohan's latest book about greed and hubris on Wall Street, the ex-Lazard banker takes on the good ole boys and gals known to suck blood in the dark of the night on the floor of the ocean -- that is, he's written about Goldman Sachs, and his book, Money and Power: How Goldman Sachs Came to Rule the World, is now available in hardcover for $17.92.

A couple reviews of M&P thus far:

Bloomberg BusinessWeek says, "Money and Power suggests the bank does possess a few special powers, starting with its remarkable ability to convince some of the world's smartest young people that touting stocks, sniffing out arbitrage opportunities, and shaking down corporate clients amount to a noble calling ... Cohan portrays a firm that has grown so large and hungry that it's no longer long-term greedy but short-term vicious. And that's the wonder -- and the horror -- of Goldman Sachs."

WSJ says, "The book is worth reading if only to reiterate how much Goldman's employees and executives have ­succeeded, stumbled and reinvented the firm­. The early years were the easiest part ... The relationship of ­Goldman to the Fed and its "too big to fail" status definitely merit a studied critique. But Mr. ­Cohan doesn't have enough knowledgable sources or hard evidence to write a full book on such matters. Instead he gives us reams of unedited emails between Goldman insiders peppered with drivel, including nauseating missives from trader Fabrice 'Fabulous Fab' Tourre boasting to his girlfriend about his genius."

(Bloomberg BusinessWeek)

(WSJ)

Filed Under: Finance


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