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Money and Power Page 92

by William D. Cohan


  mergers and acquisitions (M&A) department of, 7.1, 9.1, 10.1, 10.2, 10.3, 11.1, 11.2, 11.3, 12.1, 14.1, 15.1, 16.1, 17.1, 17.2; see also Friedman, Steve

  modernization of

  Mortgage Capital Committee of, 20.1, 21.1

  in move to go public, 9.1, 10.1, 10.2, 10.3, 11.1, 14.1, 14.2, 15.1, 15.2, 15.3, 15.4, 15.5, 16.1, 16.2, 16.3, 16.4, 16.5, 16.6, 16.7, 16.8, 16.9, 16.10, 16.11, 17.1, 17.2, 17.3, 17.4, 17.5, 18.1

  New Business Department of, 7.1, 8.1, 8.2

  New Business Group at, 12.1, 14.1

  new skyscraper of

  on New York Stock Exchange, 1.1, 3.1

  1930 debt of, 2.1, 2.2

  1940s trial of

  1987 crash and, 12.1, 15.1

  1994 losses of, 14.1, 14.2, 14.3, 14.4, 15.1, 15.2, 15.3, 15.4, 15.5, 15.6, 16.1, 18.1

  1998 trading losses of

  Owens-Corning IPO handled by, 4.1, 4.2

  “palace coup” against Corzine at, 16.1, 17.1, 17.2

  partner turnover at

  Penn Central lawsuits against, 7.1, 7.2, 7.3, 7.4, 7.5, 8.1, 10.1, 12.1, 14.1, 14.2, 18.1

  phone system of, 4.1, 5.1

  Pine Street offices of, 2.1, 3.1, 4.1, 5.1, 8.1

  plans for successor to Friedman at

  principal investing business of

  principal equity business of

  private-equity business of, 12.1, 14.1, 15.1, 18.1, 21.1, 22.1

  profit sharing at, 5.1, 9.1, 15.1

  profits of, prl.1, prl.2, prl.3, prl.4, prl.5, prl.6, prl.7, 1.1, 7.1, 7.2, 7.3, 8.1, 9.1, 9.2, 9.3, 10.1, 12.1, 12.2, 14.1, 14.2, 15.1, 15.2, 15.3, 15.4, 16.1, 17.1, 17.2, 22.1, 22.2, 22.3, 22.4, 24.1

  in proposed merger with AIG, 16.1, 16.2

  public relations fiascos at

  punishing work schedule at

  racial discrimination lawsuit against

  return on equity of

  risk-management committee of

  Sears IPO led by, 1.1, 1.2, 1.3, 3.1, 5.1

  SEC investigation of, prl.1, prl.2, prl.3, prl.4, 7.1, 7.2, 17.1

  secrecy of, prl.1, prl.2, prl.3, 7.1

  Securities Sales department of, 7.1, 19.1, 20.1

  Senate hearing on, see Senate, U.S., Goldman Sachs hearing of

  seventy-fifth anniversary of

  sexual scandals at, 12.1, 12.2, 12.3, 12.4, 14.1, 14.2

  short term loans secured by

  in squeeze on AIG, prl.1, prl.2, 23.1

  stock prices of, prl.1, prl.2, prl.3, 2.1, 2.2, 2.3, 2.4, 2.5, 2.6, 2.7, 2.8, 17.1, 17.2, 17.3

  strategic planning committee of

  suicidal clients of

  TARP funds given to, prl.1

  teamwork at

  trading department of, 5.1, 5.2, 6.1, 7.1, 8.1, 9.1, 10.1, 14.1, 15.1, 18.1; see also Levy, Gustave Lehmann

  in turn to bank holding company

  valuation of, 16.1, 16.2, 16.3, 16.4

  vulnerability of

  Wall Street office of

  Water Street Corporate Recovery Fund of, 12.1, 12.2, 12.3, 12.4

  wave of retirements at

  Wells notice received by

  World War I and, 1.1, 2.1

  worst of 2008 financial crisis avoided by, prl.1, prl.2, prl.3, prl.4, prl.5, 18.1, 22.1, 23.1

  see also Goldman, Sachs & Co.; M. Goldman and Sachs; Senate, U.S., Goldman Sachs hearing at

  Goldman Sachs, deals and underwriting of, 1.1, 1.2, 1.3, 1.4, 1.5, 3.1, 4.1, 4.2, 4.3, 7.1, 10.1

  of AT&T bonds

  of bonds, 7.1, 8.1

  British Petroleum, 12.1, 12.2

  in business with Lehman Brothers, 1.1, 1.2, 4.1, 4.2

  Facebook stock, prl.1, 2.1

  failures of

  with General Foods

  gold coins traded by, 1.1, 1.2

  insider trading and, prl.1, 2.1, 2.2, 5.1, 11.1, 11.2, 12.1, 12.2, 12.3, 14.1, 14.2

  ITT Corporation sale

  KKR

  with LTCM, 16.1, 16.2, 16.3, 16.4

  M&A deals of, 7.1, 7.2, 9.1, 9.2, 12.1, 12.2, 12.3, 14.1, 14.2, 16.1, 17.1, 17.2

  Goldman Sachs, deals and underwriting of

  Maxwell and, 14.1, 14.2, 14.3, 15.1, 15.2, 15.3

  May Department Stores, 1.1, 1.2, 4.1

  Mill Factors Corporation deal, 6.1, 7.1, 7.2, 7.3

  in 1970

  N. J. Schloss loan of

  of Penn Central, 6.1, 7.1, 7.2, 7.3, 7.4, 7.5, 7.6, 8.1, 10.1, 12.1, 14.1, 14.2, 18.1

  Pillsbury’s mortgage bonds and

  with RCA and GE, 10.1, 10.2

  for Sinclair Oil

  Studebaker trade

  with Sumitomo, 10.1, 12.1, 12.2

  Goldman Sachs, mortgage backed securities traded by, 10.1, 10.2, 12.1, 12.2, 18.1, 18.2, 21.1, 22.1, 22.2

  “big short” of, prl.1, prl.2, prl.3, prl.4, prl.5, prl.6, 19.1, 19.2, 19.3, 20.1, 21.1, 21.2, 21.3, 21.4, 21.5, 21.6, 22.1, 22.2, 22.3, 22.4, 23.1, 23.2

  CDOs of, prl.1, prl.2, 19.1, 19.2, 19.3, 19.4, 19.5, 20.1, 20.2, 20.3, 20.4, 20.5, 21.1, 21.2, 21.3, 21.4, 21.5, 21.6, 21.7, 21.8, 21.9, 22.1, 22.2, 22.3, 22.4, 22.5, 22.6, 22.7, 22.8, 23.1, 24.1

  CDSs and, 18.1, 18.2, 19.1, 19.2, 20.1, 20.2, 20.3, 21.1, 21.2, 23.1

  GSAMP deal of, 18.1, 18.2, 18.3, 18.4, 19.1, 19.2, 19.3, 19.4, 19.5, 20.1, 21.1

  hedging of, 18.1, 18.2, 18.3, 19.1, 19.2, 20.1, 20.2, 20.3, 21.1, 21.2, 22.1; see also “big short”

  marking down of, 22.1, 22.2

  Massachusetts’s investigation of

  Mississippi’s investigation of

  residential (RMBS), 19.1, 21.1, 21.2, 21.3, 22.1, 22.2, 22.3, 22.4

  subprime

  Goldman Sachs Asia

  Goldman Sachs Asset Mangement

  Goldman Sachs Fellowship

  Goldman Sachs Trading Corporation, 2.1, 2.2, 2.3, 3.1, 3.2, 3.3, 4.1, 5.1, 8.1, 9.1

  stock prices of, 2.1, 2.2, 2.3, 2.4, 2.5, 2.6, 2.7

  Goldman Sachs: The Culture of Success (Endlich), 10.1, 12.1

  Goldman v. United States, prl.1

  gold standard

  Gordon, Albert

  Gorter, James, 14.1, 14.2, 15.1

  grain

  Grand Central Terminal, 7.1, 7.2

  Granite Capital International Group

  Grannin, Chuck

  Grassley, Charles

  Grasso, Richard, 17.1, 17.2

  Gray, Harry

  Great Britain, 1.1, 14.1, 14.2

  Great Crash, The (Galbraith), 2.1, 2.2, 2.3, 2.4, 2.5

  Great Depression, prl.1, 2.1, 2.2, 4.1, 4.2, 5.1, 6.1, 6.2, 8.1, 9.1, 13.1, 14.1, 24.1

  Goldman Sachs’s strategy for

  Greatest Trade Ever, The (Zuckerman), 19.1

  Great Recession

  Greenberg, Maurice R. “Hank,” 16.1, 23.1

  Greenberger, Michael

  Greenhill, Bob, 3.1, 9.1

  GreenPoint Mortgage Funding, Inc.

  “green sheets”

  Greenspan, Alan, 16.1, 18.1

  Gregory, Hamilton W., III

  Gregory & Sons

  Greywold Capital

  Groysberg, Boris

  GSAMP TRUST 2006–S2, 18.1, 18.2, 18.3, 18.4, 18.5, 19.1, 19.2, 19.3, 19.4, 19.5, 20.1, 21.1

  GSAMP TRUST 2006–S3

  Guaranty Bank

  Guggenheim, Peggy

  Gump, Akin

  Ha, Olivia

  Habayeb, Elias, 23.1, 23.2

  Hagan, Joe

  Haire, John

  Haiti

  Haldeman, H. R.

  Hall, Perry

  Hallingby, Paul

  Halsey Stuart & Co.

  Hamilton, Fowler

  Hammerslough, Samuel

  Hammerslough, William

  Hancock, John, 4.1, 4.2

  Hanna, Charlotte

  Hanson, Lord James

  Hanson Trust PLC

  Harbinger Capital Partners

  Harris, J. Ira

  Harvard Business School, 3.1, 4.1, 4.2, 7.1, 7.2, 8.1, 8.2, 8.3, 8.4, 9.1, 14.1, 16.1, 17.1, 17.2, 17.3

  Harvard Cr
imson, 3.1, 5.1

  Harvard Law School

  Harvard University, prl.1, 1.1, 1.2, 1.3, 1.4, 2.1, 2.2, 2.3, 3.1, 6.1, 9.1, 10.1, 13.1, 18.1

  Hasbro

  Hawaii, 12.1, 14.1

  health care

  Heckscher, August

  hedge funds, 2.1, 14.1, 15.1, 16.1, 19.1, 20.1

  see also specific hedge funds

  hedging

  against bond prices

  against currency risk

  see also “big short”

  Henkel, David

  Herrick, Darryl

  Hertzberg, Daniel, 11.1, 11.2, 11.3

  Hess, Betty Levy

  Hewlett-Packard

  high-grade corporate bonds

  High-Grade Fund

  high-yield (junk) bonds, 2.1, 10.1, 10.2, 12.1, 15.1

  Ho, Greg

  Hoffman-Zehner, Jacki

  holding company

  home-equity loans

  Homeland Security Department, U.S.

  hostile takeovers, 9.1, 9.2, 10.1, 11.1, 11.2, 14.1, 14.2, 17.1

  Hotchkiss, 17.1, 17.2

  hot IPOs

  Houghton, Amory

  Houghton family

  House of Representatives, U.S.:

  Appropriations subcommittee of

  Banking Committee of

  Financial Services Committee of

  see also Congress, U.S.; Senate, U.S.

  housing bubble, 18.1, 18.2

  “big short” and, see “big short”

  bursting of, prl.1, 18.1, 20.1

  Houston, David F.

  “How Did GS Avoid the Mortgage Crisis?”

  Howe, Louis

  Hudson Mezzanine Funding

  Hu Jintao

  Hull, Cordell

  Humphrey, George

  Humphrey, Hubert

  Hunt, John

  Hunt Foods

  Hurst, Robert, 9.1, 14.1, 14.2, 14.3, 14.4, 14.5, 14.6, 14.7, 15.1, 16.1, 16.2, 16.3, 16.4, 16.5, 16.6, 17.1, 17.2, 17.3

  Hydrox

  IBM, 3.1, 17.1

  ICI

  IKB Deutsche Industriebank AG, prl.1, prl.2, prl.3, 20.1, 21.1

  Importers’ and Traders’ Bank

  INA Corp

  In an Uncertain World (Rubin), 6.1, 7.1, 7.2

  Independent, 14.1, 17.1, 17.2, 23.1

  India, 15.1, 16.1

  Indonesia

  “Inflation and Its Relationship to Economic Development in Brazil” (Rubin)

  Ingram, Kevin

  Inland Steel, 14.1, 14.2, 14.3

  In Search of Excellence (Peters), 9.1

  insider trading:

  Boesky’s dealings in, 11.1, 11.2, 11.3, 11.4, 11.5

  Goldman Sachs and, prl.1, 2.1, 2.2, 5.1, 11.1, 11.2

  increasing strength of laws on

  mergers and

  Inside the House of Money (Drobny), 14.1

  Institutional Investor, 5.1, 7.1, 8.1, 9.1, 9.2, 9.3, 10.1, 10.2, 12.1, 12.2, 13.1, 14.1, 15.1

  interest rates, 14.1, 14.2, 16.1, 22.1

  International Jew, The: The World’s Foremost Problem (Ford), 4.1

  international markets

  Goldman Sachs’s move into, 8.1, 12.1, 12.2, 14.1, 14.2, 14.3, 14.4, 15.1, 15.2, 15.3, 16.1, 17.1, 17.2

  International Nickel Company

  International Synagogue at Kennedy Airport

  Internet bubble, 17.1, 17.2, 17.3, 23.1

  Internet IPOs, 2.1, 18.1

  Interstate Commerce Commission (ICC), 4.1, 7.1, 7.2, 7.3, 7.4

  investment bankers, on corporate boards, 3.1, 6.1, 7.1

  investment banking, investment banks

  antitrust lawsuit against

  customer service of

  Goldman Sachs’s mixing with trade

  Levin’s criticism of, prl.1, prl.2, 4.1

  Medina’s judicial decision on

  prevented from intermingling with commercial banks, 2.1, 4.1, 10.1

  Walter Sachs on

  Weinberg’s study of

  investment trusts, 2.1, 2.2, 2.3, 3.1, 3.2, 3.3, 3.4, 4.1, 5.1

  Investors Diversified Services, Inc. (IDS), 5.1, 6.1

  IOUs, 1.1, 1.2, 1.3, 1.4, 1.5, 1.6, 5.1, 6.1

  see also commercial paper

  Iraq War

  irrational exuberance

  IRS, 4.1, 15.1, 17.1

  ISDA Master Agreement

  Ishikawa, Tetsuya

  Italy, 14.1, 14.2

  ITT Corporation

  Ittelson, Henry

  iVillage

  Jacobs, Eli

  Jacobs, Heather

  Jamison, Bill

  Jamison, John, 7.1, 7.2

  Japan, 10.1, 14.1, 14.2, 14.3, 17.1

  Jaretzki, Alfred

  J. Aron & Company, 9.1, 9.2, 10.1, 12.1, 14.1, 14.2, 14.3, 16.1, 17.1, 17.2

  Jefferson Islands Club

  Jell-O

  Jews:

  as bankers, 1.1, 1.2, 1.3, 5.1

  Marcus Goldman’s collection of money for

  as store owners

  Jiang Zemin

  Jinro Ltd.

  John H. Jacqueline

  Johns Hopkins School of Advanced International Studies

  Johnson, James

  Johnson, Jim, 13.1, 17.1

  Johnson, Lyndon B.

  Johnson & Johnson

  Joint Chiefs of Staff

  Jonas, Nathan

  Jonas, Ralph, 2.1, 2.2, 2.3, 2.4, 2.5

  Joseph, Fred

  Journal Company

  Journalist and Financial Reporting, 11.1

  JPMorgan, prl.1, 2.1, 14.1, 18.1, 18.2, 20.1, 22.1

  Goldman Sach’s proposed merger with, 16.1, 16.2

  investment trust of

  World War I funds raised by, 1.1, 2.1

  J. P. Morgan building

  JPMorgan Chase

  Bear Stearns’s merger with, prl.1, 22.1

  Glass-Steagall’s effect on

  TARP funds repaid by

  J. S. Bache & Co.

  junk (high-yield) bonds, 2.1, 10.1, 10.2, 12.1, 15.1

  Justice Department, U.S., 4.1, 5.1, 5.2, 6.1, 7.1, 18.1, 24.1

  Wall Street firms sued by, 4.1, 8.1

  Kaden, Lewis, 7.1, 13.1

  Kahn, E. J., Jr., 3.1, 3.2, 3.3, 4.1

  Kalb, Richard

  Kamehameha I, King of Hawaii

  Kamehameha Schools

  Kamp, Charlotte

  Kaplan, Gilbert, 7.1, 8.1

  Kaplan, Robert, 14.1, 17.1

  Katz, Robert, 14.1, 14.2, 16.1

  Friedman’s succession and, 14.1, 14.2, 14.3

  Kaufmann, Edgar

  Kaufmann, Edgar, Jr.

  Kaufmann Stores

  Keenan, John F.

  Kellogg

  Kelly, Kate

  Kennedy, Joe

  Kennedy, John F.

  Kennedy, Ted

  Kenny, John

  Kerouac, Jack

  Kerr, Steven

  Keynesian economics

  Kidder, Peabody & Co., 9.1, 11.1, 11.2, 11.3, 11.4, 11.5, 11.6, 18.1

  secret arbitrage unit in

  Kim, Anthony

  Kimmel, Sidney

  Kirby, Allan P., 5.1, 5.2, 6.1

  Kissinger, Henry, 8.1, 9.1

  KKR Financial Holdings, 18.1, 22.1, 24.1

  Kleinwort, Sons & Co., 1.1, 1.2, 7.1, 8.1

  Klingenstein, Arthur

  Kohlberg Kravis & Roberts (KKR), 11.1, 11.2, 15.1

  Komatsu, Koh

  Korean War, 3.1, 3.2, 8.1

  Kraft Foods

  Kraus, Peter, 16.1, 16.2, 17.1, 22.1

  Kravis, Henry, 7.1, 11.1, 12.1, 12.2, 15.1, 24.1

  Kravis, Ray

  Krimendahl, H. Fred, II, 7.1, 7.2, 7.3, 15.1

  Kroll, Jules

  Kronish, Leon, 6.1, 6.2

  Krugman, Paul

  Kuhn, Loeb, 1.1, 4.1

  laddering

  Lady Ghislaine, 14.1

  Lampert, Edward, 11.1, 18.1

  Langone, Kenneth

  �
��Larry” (Whitehead’s friend)

  Laser & Skin Center

  Lasker, Bernard “Bunny,” 11.1, 11.2, 11.3, 13.1

  Lautenberg, Frank

  Lawson, Nigel

  Lazard Frères & Co., 5.1, 6.1, 6.2, 6.3, 9.1, 10.1, 10.2, 11.1, 15.1, 15.2, 16.1, 17.1, 17.2, 18.1, 20.1

  as absent from antitrust suit

  capital of

  gold bullion traded by

  as Jewish firm

  profits divvied up at

  start of

  Sumitomo deal and

  Leach, Roger

  Leasco

  lease finance

  Lehman, David, 20.1, 20.2, 20.3, 20.4

  Lehman, Emmanuel

  Lehman, Herbert, 4.1, 5.1

  Lehman, Philip, 1.1, 1.2, 1.3, 4.1

  Lehman, Robert, 3.1, 3.2, 4.1, 8.1

  Lehman Brothers, 3.1, 5.1, 11.1, 15.1, 17.1, 20.1, 22.1

  antitrust suit against

  capital of

  demise of, prl.1, prl.2, prl.3, prl.4, 23.1

  Goldman Sachs’s squeeze on

  mortgage-backed securities of, 18.1, 18.2

  Sears IPO and

  start of, 1.1, 1.2

  in underwriting business with Goldman Sachs, 1.1, 1.2, 4.1, 4.2

  Lehmans, 1.1, 1.2, 1.3

  Lenk, Edward

  Lenzner, Robert, 5.1, 5.2, 5.3, 6.1, 17.1

  Lenzner, Terry

  Leval, Pierre

  leverage

  in Blue Ridge deal

  in Sheandoah deal

  leveraged-buyout techniques, 2.1, 18.1

  Levin, Carl, prl.1, 22.1, 23.1, 24.1, 24.2, 24.3

  Blankfein questioned by, prl.1

  complex financial instruments criticized by, prl.1, prl.2

  Levin, Richard

  Levine, Dennis, 11.1, 11.2, 11.3, 11.4, 11.5

  Levis, William

  Levy, Bella Lehmann

  Levy, Betty, 5.1, 5.2

  Levy, Brad

  Levy, Gustave Lehmann, 5.1, 7.1, 7.2, 9.1, 11.1, 12.1, 12.2, 13.1, 14.1, 14.2, 17.1, 17.2

  alleged letter promoting Weinberg and Whitehead by

  in arrangements with Rothschild and Wertheim

  AT&T deal and

  background of

  in battle for control of Allegheny, 5.1, 5.2

  block trades desired by, 5.1, 5.2, 5.3, 6.1, 6.2, 7.1, 8.1

  Christian Science Monitor article of, 5.1

  civic responsibilities of, 5.1, 5.2, 7.1, 7.2, 7.3, 9.1

  on corporate boards, 5.1, 5.2, 7.1, 7.2, 7.3, 7.4, 7.5

  death of, 7.1, 8.1, 8.2, 8.3, 8.4, 14.1, 14.2, 14.3

  on Goldman Sachs’s pay

  hedging disdained by

  Institutional Investor interview of, 7.1, 8.1

  Mayers and, 5.1, 5.2

  Missouri Pacific bonds traded by, 5.1, 5.2

  options trading approved by

  as parochial

  Pennsylvania Central deal and, 7.1, 7.2, 7.3, 7.4, 7.5, 7.6, 7.7, 7.8, 7.9

  placed in charge of arbitrage, 5.1, 15.1

  Purchase of J. Aron considered by

 

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