Elephant Tears
James Macdonald: Goldman Sachs, 3 November 2011
Money and Power: How Goldman Sachs Came to Rule the World
by William Cohan.
Allen Lane, 658 pp., £25,9781846144547 Show More
by William Cohan.
Allen Lane, 658 pp., £25,
“... the largest yet in history, was the high point of his reign. He was succeeded in the 1960s by Gus Levy, a trader by background, who represented a new and in hindsight disturbing trend on Wall Street: firms began to derive most of their profits from taking risks with their balance sheets rather than providing investment banking services. Under ... ”