Preview

Book Review Money and Power

Powerful Essays
Open Document
Open Document
3835 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Book Review Money and Power
2013
Money and Power
How Goldman Sachs Came to Rule the World
William D. Cohan

Contents of Book Review

Page

Introduction 3

Author’s Credentials 4

Brief Summary of the Book 5

Author’s Thesis 8 Criticisms 9

Notes on Sources 12

Conclusions 12

Introduction
I picked this book after carefully analyzing all the different titles. The reason I picked this book was because I wanted to learn more about the Financial Crisis in America as it is slightly out of my comfort zone. I had no previous knowledge of how Goldman Sachs operated or how influential they were in America. Money and Power was described as an insight into the inner circles of Goldman Sachs revealing a shocking story of clashing egos, backstabbing, sex scandals, private investigators, court cases and government cabals and what really lies underneath the PR projected image of the “perfect company”. I was attracted to this book as I, like most people in Ireland have been affected by the economic downturn and the role the banks had to play. I had a

You May Also Find These Documents Helpful

  • Powerful Essays

    Throughout history, from the expansion of the Romans by military means into the surrounding countries in 150AD to the colonisation of the America’s in 1942 to the introduction of the English to Australia in 1788, the introduction of a new, more advanced culture has the same resulting change to the indigenous people and their culture – suppression. This idea of colonisers wielding having power over the natives is a common one throughout history and continues to be true now, when Western influence is exerted across many less-developed nations, including India. Slumdog Millionaire, directed by Danny Boyle and produced in 2008, is a story that has two parallel cultures, Indian and Western, and the balance of power between them is quite clear. Through…

    • 1393 Words
    • 6 Pages
    Powerful Essays
  • Powerful Essays

    Chernow, Ron. The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance, (2001)…

    • 1448 Words
    • 6 Pages
    Powerful Essays
  • Powerful Essays

    Econ

    • 1239 Words
    • 5 Pages

    Background: Although the basic function of financial markets is straightforward – to match people who have money with people who need money – the way finance and Wall Street actually operate can get very complicated, and involves lot of jargons. The movie Inside Job however, does not involve very many new terms, and explains the recent global financial crisis nicely (even though some of the opinions in the movie may seem biased).…

    • 1239 Words
    • 5 Pages
    Powerful Essays
  • Good Essays

    House of Morgan Paper

    • 817 Words
    • 4 Pages

    It was an honor and privilege to have been able to read and enjoy the book, The House of Morgan, by Ron Chernow, as he depicted thoroughly the history of the American banking system as well as the financial system in the United States. As long and challenging as the read was, I really liked how the author, Chernow, stated many facts throughout the history of the U.S. starting in 1835 in the opening chapter with George Peabody and how he played a big part in shaping the economy and banking system of the U.S. I was unaware of his influence prior to reading the book as he started up his banking firm George Peabody & Co. in London. I also went on to learn about how Junius Spencer Morgan (J.S. Morgan), who was the father of John Pierpont Morgan (J. P. Morgan), and Peabody, formed a partnership that would last 10 years with the establishment of Peabody Morgan & Co. It was also good to read an objective historical viewpoint, especially with what is happening in Wall Street over these past few years and the uncertainty that comes with it; the huge buyouts, the big bankruptcies, the whirling stock market, and the fragile dollar that has everyone worried. With all the facts, stories and historical perspectives that were included in the book and the fact that I learned so much, I definitely am glad to have read it, especially since I do have a background in finance. A novel like this for me to read was long overdue.…

    • 817 Words
    • 4 Pages
    Good Essays
  • Better Essays

    The brief preface to the novel “Mystery is a form of power.” presents the reader with an overall theme before the first page is even read. Although with a different meaning, Hogan uses power throughout the entire novel and in each facet of the narrative. The novel begins with a demonstration of the vast power that, in both its beauty and its destruction, nature demands. Power was transferred between nature and the Taiga people. A stern refusal of power by Omishto presents itself continually throughout the whole story as she recognizes, cultivates, and obtains her true soul and being.…

    • 1166 Words
    • 5 Pages
    Better Essays
  • Good Essays

    The social and political atmospheres within the colonies during the 17th and 18th centuries were constantly evolving—and often depended on the people that made it up. In Power, Authority, and Wealth, by James A. Henretta, he examines this idea by looking at the links between the wealth, social hierarchies, and political changes in the north and south, and how this affected key groups across both regions. The Great Planters of the south owed their power to their wealth, which allowed them to gain both social and political influence. The rise of entrepreneurs in the north, created a populous, socially mobile middle-class that began to have social influences and political opportunities. With the rise of more independent, local governments these…

    • 982 Words
    • 4 Pages
    Good Essays
  • Satisfactory Essays

    The meltdown of 2008 struck the banks when they were unable to adequately deal with the financial crisis. Banks are designed to create and protect one’s wealth, but they took advantage of the people, and let people take many loaning risks that they couldn’t afford. Banks created the credit default swap which transferred credit of fixed income products between parties. In learning about the credit default swap in class, it is understood that the buyer receives credit protection, whereas the seller guarantees the credit. Therefore, the risk of default is transferred from the holder to the seller of the swap. But swaps allowed companies to shed the risks they didn’t want to take.…

    • 333 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    “I bought a dozen volumes on banking and credit and investment securities, and they stood on my shelf in red and gold like new money from the mint, promising to unfold the shining secrets that only Midas and Morgan and Maecenas knew.” (4)…

    • 1920 Words
    • 8 Pages
    Powerful Essays
  • Satisfactory Essays

    C. Wright Mills has a different ideal of what “the power elite” is. Today, the term is associated with organizational sociology, political sociology, and other areas. Mills believe that the power elite are the ones in dominant positions. That these are the people making the choices for America, or manipulating it. Positions such as military, political, and in the economical positions. Mills states that the ones in the position of the power elite are not always aware of their status and “without conscious effort, they absorb the aspiration to be… the ones who decide”.…

    • 280 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Machiavelli argues in another major work that the purpose of politics is to promote a “common good.” How does this statement relate to the ideas Machiavelli presents in The Prince?…

    • 530 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Bartleby's Transformation

    • 790 Words
    • 4 Pages

    Cited: Hunter and Kelly J. Mays. “Bartleby, the Scrivener: A Story of Wall-street.” The Norton Introduction to Literature. New York, NY: W. W. Norton & Company, 2006. 133-161.…

    • 790 Words
    • 4 Pages
    Good Essays
  • Satisfactory Essays

    What Makes Countries Rich or Poor? by Jared Diamond |The New York Review of Books.…

    • 351 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    Money or Power

    • 5173 Words
    • 21 Pages

    The international power of the United States in the twentieth century has been grounded in its economic strength. In 1900, even before the US had much of an army, it was perceived as a power and a future great power. By 1920 it was the supreme financial power in the world, having displaced Great Britain during the First World War. By 1945 it was virtually the only financial power, most others having been devastated by the Second World War. By 1985 it had lost its position as supreme financial power, with Japan succeeding to the crown. It had been a short but action-packed reign.…

    • 5173 Words
    • 21 Pages
    Powerful Essays
  • Good Essays

    Firstly, Ah Bah is portrayed as surreptitious through his secretive behaviour to hide his money away from his father ‘in a corner of the cupboard behind the stacks of old clothes, newspapers and calendars’. This shows how furtive Ah Bah is to conceal his money, as he always hides his money in inconspicuous places such as the cigarette tin in the hope that his father will not notice. Also, in a bid to prevent his father from obtaining his money, Ah Bah came out of a story whereby ‘a rough-looking Indian had pushed him to the ground and taken away his money’, so as to lead his father the wrong way of thought and to stop suspecting the fact that he is keeping some money with himself, thus showing the great lengths he took in order to safeguard his precious money. Ah Bah’s sneaky behaviour demonstrates how surreptitious he is, as he behaves in a way that shows he wants to keep his whereabouts of the money a secret and do not want it to be noticed.…

    • 631 Words
    • 3 Pages
    Good Essays
  • Better Essays

    Power and Politics

    • 2306 Words
    • 10 Pages

    An effective organization focuses on strong leadership, power and political issues. These components are critical to creating an organization mindful of values, ethics, culture and innovation. Analyzing the use of power and politics are essential to understanding the behavior of individuals within organizations. There are two sides to power and politics. In one respect power and politics imply the shady side of leadership. However, power and politics can be positive tools that managers use to accomplish tasks. This paper defines power and politics and examines how one can be used to influence the other in a positive way, thus resulting in gain, and in a negative, corruptive way, which ultimately leads to destruction of an organization.…

    • 2306 Words
    • 10 Pages
    Better Essays