Goldman Sachs survived the 2008 financial crisis just as it survived the Great Depression of the 1930s. But it did so in ways that critics say stretched the boundaries of ethics on Wall Street.
Having taken up both sides of deals on mortgage-backed securities, Goldman Sachs ensured that when the market for them failed, it made billions of dollars.
Now, according to Money and Power: How Goldman Sachs Came to Rule the World, a new book by William D Cohan, Goldman Sachs's friends in high places have started to desert it.
William is in the studio and reads from Money and Power. He joins the Guardian's financial editor Nils Pratley to discuss the phenomenon of a firm that has remained the major player on Wall Street for well over a century.
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