Party insiders and backroom deals: One author on why we need to bring back old-time politics.
The collapse of the U.S. housing market in 2007 spawned the worst economic crisis since the Great Depression. Millions of Americans lost their homes, their jobs, and their faith in the financial markets. Many of Wall Street’s biggest investment banks, that helped fuel the mortgage meltdown, went belly-up. In a new book, a former Wall Street insider explains how one of these firms not only survived the crash, but made record profits, thanks to a historic bet it made against the market. The story of how Goldman Sachs came to rule Wall Street, beat the Bubble, and incur the wrath of the American public.
- William Cohan contributing editor at Vanity Fair, opinion columnist for the New York Times; author of "House of Cards" and "The Last Tycoons"; and former investment banker
Read an Excerpt
From “Money and Power” by William Cohan. Copyright 2011 by William Cohan. All rights reserved. Excerpted by kind permission of Doubleday:
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