The Partnership

For the proud Sachs family, the failure of Goldman Sachs Trading Corporation became a very public humiliation.  In 1932, Eddie Cantor, the popular comedian and one of forty-two thousand investors in Goldman Sachs trading Corporation, sued Goldman Sachs for one hundred million dollars while regularly including in his vaudeville routine bitter jokes about the firm.  One: "They told me to buy the stock for my old age…and it worked perfectly…Within six months, I felt like a very old man!"

That is from the new Charles D. Ellis book The Partnership: The Making of Goldman Sachs.  So far this book is a very good history and it has more economic and historic substance than The Snowball.


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