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What Happened to Goldman Sachs

Nonfiction: Business / Financial Industry / Ethics
Unabridged   11 hour(s)
Publication date: 04/30/2014

What Happened to Goldman Sachs

An Insiders Story of Organizational Drift and Its Unintended Consequences

Available from major retailers or BUY FROM AMAZON
Audio CD ISBN:9781622314461
Digital Download ISBN:9781622314478


How did Goldman Sachs go from being one of the most respected and powerful firms on Wall Street to near collapse during the mortgage crisis? Insider Steve Mandis charts the slow drift that not just Goldman Sachs but any company may fall into if they are not minding essentials.

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Product Description

In What Happened to Goldman Sachs, Columbia Business School professor and former Sachs executive Steven Mandis charts the evolution of Goldman Sachs from an ethical standard to a legal one and uncovers the forces behind what he calls Goldman’s “organizational drift.” Drawing from his firsthand experience; sociological research; analysis of SEC, congressional, and other filings; and a wide array of interviews with former clients, detractors, and current and former partners, Mandis exposes the pressures that forced Goldman to slowly drift away from the very principles on which its reputation was built.

Combining insightful analysis with engaging storytelling, Mandis has written an insider’s history that offers invaluable perspectives to business leaders interested in understanding and managing organizational drift in their own firms.


"The author's skill with narrative and Runnette's sensitivity give this story Shakespearean proportions that make this extended saga riveting." ---AudioFile Earphones Award

“An accessible, clearly written book. Those interested in all things Goldman will find it useful for its appendixes, which include a timeline of the bank’s history and biographical sketches of its top leaders.”
      —The New York Times

“A remarkable new book.”
      —The Economist

“In this riveting debut, Columbia Business School professor and former Goldman Sachs executive Mandis examines the factors that tarnished the firm’s reputation in recent years. . . . A must-read for anyone interested in the world of business and finance, history, or organizational dynamics.”
      —Publishers Weekly

“Fascinating . . . for its sympathetic yet unflinching study of a firm and an industry that has come to epitomize what is problematic about Western capitalism, What Happened to Goldman Sachs is hard to beat.”
      —strategy+business magazine

“entertaining and informative… a welcome addition to the literature on the rise and fall of corporations.”
      —Seeking Alpha (seekingalpha.com)

“A profound tale.”
      —The Financial Times

“Several authors have tackled the question of how Goldman’s culture changed post-1999 but none so deftly as Steven G. Mandis.”
      —The Wall Street Journal

“Mandis’s book describes changes at the bank and across the industry that have contributed to the unflattering portrait of Wall Street that has taken hold since the financial crisis.”
      —Politico (politico.com)

“A more somber, studied look at the bank’s culture. . . . His book, [What Happened to Goldman Sachs] has the added gravitas of being the basis for Mandis’s PhD dissertation on his former employer at Columbia University.”
      —Bloomberg Businessweek

Author Bio

STEVEN G. MANDIS worked at Goldman Sachs from 1992 to 2004 in its investment banking, private equity, and proprietary trading areas. He assisted Hank Paulson and other senior executives on special projects and eventually became a portfolio manager in one of the largest and most successful proprietary trading areas at Goldman Sachs. Post-Goldman, he cofounded a multibillion-dollar global alternative asset management firm that was a trading and investment banking client of Goldman Sachs. During the financial crisis, Mandis was a senior adviser to McKinsey & Company before accepting a senior executive position at Citigroup. Currently, he is an adjunct professor at Columbia Business School and a PhD candidate in the sociology department at Columbia University. He holds an AB from the University of Chicago and an MA and MPhil from Columbia University.

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