Wall Street supported charlatans operating in Europe: “Money and Power: How Goldman Sachs Came to Rule the World” - by John Steel Gordon

In a recent book by William D. Cohan he writes that when J. P. Morgan & Co. opened its new building at 23 Wall Street, at the corner of Wall and Broad, in 1913, it didn’t bother to put its name on the door. The bank assumed, doubtless correctly, that anyone who had legitimate business with the Street’s most famous and powerful bank would know where to find it.

Goldman Sachs’s new headquarters on West Street in lower Manhattan also has no name on the door. Indeed, it has no name in the lobby either. The anonymity is, perhaps, a mark of Goldman Sachs’s self-evaluation that it, like the Morgan Bank a century ago, is the undisputed leader of Wall Street.
 

Cohan covers this early history, but only cursorily. Indeed, the history is largely potted, taken from such secondary sources as Stephen Birmingham’s “Our Crowd” and John Kenneth Galbraith’s “The Great Crash, 1929.” The early chapters of “Money and Power” are sprinkled with such phrases as “according to Birmingham.” Using secondary sources is perfectly acceptable, but foisting off on them the responsibility for getting the history right is not.

Note EU-Digest: Bottom line is that Goldman Sachs by the very nature of their history and actions should be closely scrutinized. In reference to its activities in Europe, specifically in relation to Greece, they should have been banned from doing any business in the EU a long time ago.  

Unfortunately they have not been banned, and worse they are not the only one in this category of "Multi-National Corporate Untouchables". There are many more. Just think of  Rupert Murdoch's empire. It is high time the European Commission, instead of talking about it, take some serious action by publicly exposing their dubious practices, and getting rid of these dangerous and powerful Wall Street supported charlatans operating in Europe.

By: William D. Cohan’s “Money and Power: How Goldman Sachs Came to Rule the World” - The Washington Post