Overview

You know what happened during the financial crisis now it is time to understand why the financial system came so close to falling over the edge of the abyss and why it could happen again. Wall Street has been saved, but it hasn t been reformed. What is the problem? Suzanne McGee provides a penetrating look at the forces that transformed Wall Street from its traditional role as a capital-generating and economy-boosting engine into a behemoth operating with only its own short-term interests in mind and with reckless disregard for the broader financial system and those who relied on that system for their well being and prosperity. Primary among these influences was Goldman Sachs envy - the self-delusion on the part of Richard Fuld of Lehman Brothers, Stanley O Neil of Merrill Lynch, and other power brokers (egged on by their shareholders) that taking more risk would enable their companies to make even more money than Goldman Sachs. That hubris and that narrow-minded focus on maximizing their short-term profits led them to take extraordinary risks that they couldn t manage and that later severely damaged, and in some cases destroyed, their businesses, wreaking havoc on the nation

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.. .masterful...exceptionally lucid, well-written --Washington Post .. .must-read on the venerable Wall Street firm [Goldman Sachs]. -- Dow Jones' FINS A disturbing account of how Goldman Sachs Group Inc. became a seductively successful Pied Piper, luring rival banks down a path to destruction. -- Bloomberg McGee's book is full of entertaining and enlightening material. -- Financial Times McGee has taken it upon herself to make the case less through assertion or argument than through anecdote and appeal to authority. -- New York Times Book Review .. .a great look at a current event for the general reader. -- Library Journal Excellent book. -- Booklist From the Hardcover edition. . ..masterful...exceptionally lucid, well-written --Washington Post . ..must-read on the venerable Wall Street firm [Goldman Sachs]. -- Dow Jones' FINS A disturbing account of how Goldman Sachs Group Inc. became a seductively successful Pied Piper, luring rival banks down a path to destruction. -- Bloomberg McGee's book is full of entertaining and enlightening material. -- Financial Times McGee has taken it upon herself to make the case less through assertion or argument than through anecdote and appeal to authority. -- New York Times Book Review . ..a great look at a current event for the general reader. -- Library Journal Excellent book. -- Booklist From the Hardcover edition.

.. .masterful...exceptionally lucid, well-written --Washington Post .. .must-read on the venerable Wall Street firm [Goldman Sachs]. -- Dow Jones' FINS A disturbing account of how Goldman Sachs Group Inc. became a seductively successful Pied Piper, luring rival banks down a path to destruction. -- Bloomberg McGee's book is full of entertaining and enlightening material. -- Financial Times McGee has taken it upon herself to make the case less through assertion or argument than through anecdote and appeal to authority. -- New York Times Book Review .. .a great look at a current event for the general reader. -- Library Journal Excellent book. -- Booklist From the Hardcover edition.

. ..masterful...exceptionally lucid, well-written --Washington Post<br><br>. ..must-read on the venerable Wall Street firm [Goldman Sachs]. -- Dow Jones' FINS<br> <br> A disturbing account of how Goldman Sachs Group Inc. became a seductively successful Pied Piper, luring rival banks down a path to destruction. -- Bloomberg <br> <br> McGee's book is full of entertaining and enlightening material. -- Financial Times <br> <br> McGee has taken it upon herself to make the case less through assertion or argument than through anecdote and appeal to authority. -- New York Times Book Review<br> <br> . ..a great look at a current event for the general reader. -- Library Journal<br><br> Excellent book. -- Booklist<br><br><br> From the Hardcover edition.

Author Information

SUZANNE McGEE, is a contributing editor at Barron s. She has written about the financial markets for the New York Post, Institutional Investor, Portfolio.com, and the Financial Times and is a Loeb Award winner for a multimedia series on consumer culture in China. Earlier in her career she was a staff reporter for the Wall Street Journal.

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