Synopses & Reviews
They laid the foundations of American finance and defined the American brand of capitalism. They bankrolled wars, were the impetus behind the building of the first transcontinental railroad system, and fueled a fledgling nations grandiose dreams of empire. S&M Allen, J. P. Morgan & Co., Goldman Sachs, Lehman Brothers...they were the great Wall Street partnerships, and for well over a century, through a combination of financial genius, political chicanery, and the audacity of Caesars, they wielded unprecedented influence over the business, financial, and political landscapes of a nation.
The Last Partnerships combines rigorous scholarship with journalism at its best to present a panoramic history of the rise and fall of the great financial housesfrom the Yankee Bankers, at the turn of the 19th century, up to Goldman Sachs historic IPO in 1999tracing their origins, their successes and failures over the years, and the reasons for their ultimate demise. The Last Partnerships is must-reading for history buffs and everyone interested in the world of finance behind the business-page headlines.
Includes bibliographical references (p. 325-328) and index.
Table of Contents
Chapter 1: The Yankee Banking Houses: Clark Dodge and Jay Cooke.
Chapter 2: "Our Crowd": The Seligmans, Lehman Brothers, and Kuhn Loeb.
Chapter 3: White Shoes and Racehorses: Brown Brothers Harriman and August Belmont.
Chapter 4: Crashed and Absorbed: Kidder Peabody and Dillon Read.
Chapter 5: Corner of Broad and Wall: J. P. Morgan and Morgan Stanley.
Chapter 6: Corner of Wall and Main: Merrill Lynch and E. F. Hutton.
Chapter 7: Unraveled by Greed: Salomon Brothers and Drexel Burnham.
Chapter 8: The Last Holdouts: Goldman Sachs and Lazard Freres.