Predators and Profits: 100+ Ways for Investors to Protect Their Nest Eggs

Chapter 11. Snakes and Ladders: Spinning, Flipping, and Walking through Wall Street’s Walls

	“What used to be a conflict is now a synergy.” “Objective? The other word for it is uninformed.”
	--comments by Salomon Smith Barney’s controversial former telecommunications analyst Jack Grubman, quoted in BusinessWeek on May 15, 2000

Little illustrated the dilemma facing Wall Street more than the response of Goldman Sachs Chairman and Chief Executive Henry (Hank) Paulson to the public’s loss of confidence in corporate America in the summer of 2002. In a rare speech, this publicity-shy powerbroker told an audience at the National Press Club in Washington, D.C., that he couldn’t think of a time when U.S. business had been held in less repute. He also laid ...