  .  Goldman Sachs     
 . 


 -  ,    ,       ,  Goldman Sachs.   Goldman Sachs  ,    ,     젖  ,   ࠖ   ,     .        ,     ,   ,    .    ?    ?      ?    ,   ,     ,     ,     Goldman Sachs  ? ,      .





 

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 Willian D. Cohan, 2011

    , , .   , 2018



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* * *


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   Goldman Sachs     -. ,        ,       .  ,    ,    ,    .          ,     .

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     ,     ,         ,   . -            ,       ,      .      ,    ,     ,   ,       ,   .      ,           . ,      ,              .

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-    .     ,    ,      ,              XVIII. ,    ,     142-   Goldman Sachs       ,        ,        ,           ,          .

  Goldman Sachs  ,      ,      젖   ,    ࠖ   ,      .         ,      ,      .   ꠖ             ,       ,       ,  Goldman Sachs        .

            ,     Goldman Sachs,    ,      .    -:     ,     [1 - Martin A. Armstrong, Looking Behind the Curtain: The Real Conspiracy, April 9, 2009.],   -,           ,   [2 - Matt Taibbi, Rolling Stone, July 923, 2009.]. 堖   ,   Rolling Stone,    .  ,  ,         : Goldman Sachs            ,   ?

,   XXI.,     Goldman Sachs   .       :          -  ;  1940-    17 ,         .   40         - ,      ,  ,     .     ,   Goldman Sachs,     .

     ,       .     .     :   1932.,          ,      , Goldman Sachs,   ,    .  ,        ,    .     ,     - , Goldman Sachs            .

     , 56-       Goldman Sachs,         ,          .    Newsweek     (The Promise)  ,      [3 - Jonathan Alter, The Promise: President Obama, Year One (New York: Simon & Schuster, 2010), p. 314.]   ,    ,  ,        $16,2, ,     ,   2007.    .  , ,     ,      ,  :   ,   -,          [4 -  .].

        젖 , ,     Goldman Sachs,            ,   .    ,    ,     ,      ,     ,      [5 -    (. 1930)  ,      ,   ,  19891992.   . . .]       . ,   ,          .    Goldman Sachs   , ,      ,          㠖  ,    ,     蠖     ,      .

  ,      ,      Goldman Sachs,    . ,   ,    .    ,   Goldman Sachs     :  ,      .        , ,  ,            ,   ,                    .


* * *

 -  ,   -,     2007.,       ,      ,          -,        (Bear Stearns, Lehman Brothers  Merrill Lynch).        ,  Citigroup, AIG, Washington Mutual  Wachovia.

 Goldman Sachs      ,           2006.    .       ,      , ,   ,         ,     ,  .   .

  2007.  ,    ,                 .   2007.,     ,        , Goldman Sachs         $4,           .

  2007.    Goldman Sachs  $11,4,       $322     -.       ,       2006.,       -.    ,  $70,3.   ,              , Goldman Sachs      $2,3[6 -       27  2009.],       27  2009.     -  2008.         .       $1,1. (   ,   :   3,37   Goldman Sachs,    $570.)

    ,      ,      ,  ,    ,         .   ,   ,    ,                 ,       .        , ,        ,        .

Goldman Sachs  ,           - ,            .  ,      ,  ,          ,             ,       2007.      ,   ,  ,   ,    ,     .  ,                          (,  ,      ),                .        ,     .  ,   -,   ⠖   ,      ,   2007.       ,       .

 ,            ,    Bear Stearns, Merrill Lynch  Lehman Brothers,        ⠖ AIG,         :  Goldman Sachs  ,       .    -   , ,                ,         .

   ,   Goldman Sachs,        ,      .     [ ]      ,   ,    (CDO),  ,     ,  11  2007.  ,     Goldman,        .            ,       -           ,    .            ,     ..        30- . (      -, 85,   - .)

         .      Goldman        .      ,      Goldman Sachs   -  Bear Stearns,         ,        Goldman Sachs. - Bear Stearns    ,  Goldman Sachs,    ,          (SEC).

        ,   -.     2007.,    , -   .          .     2007.     ,     $1,5.  -     Bear Stearns.   2007.     ,         -,   Goldman Sachs,    100    .         .

 ,    -  , Bear Stearns         ⠖     ,         . ,    -,     Goldman Sachs    ,    9  Bear Stearns    ࠖ          JPMorgan Chase.    Bear Stearns     JPMorgan Chase   $10    Bear Stearns.     2007.      $172,69,    $20.  Goldman Sachs           Merrill Lynch,    Bank of America       ,     AIG,       ,   $182   .   Goldman Sachs,       ,          ,   ,       .


* * *

,  Goldman Sachs      ,        . ,  -   ,     ,         ,          ,    ,           2007.  .  $500,     ,     Goldman Sachs. ( Goldman Sachs  ,    2008.          $1,7,  ,       $1,2.)      , , ,      2007.,       -, Goldman Sachs      :      , ,         .     , ,     ,     :           [7 -         Fortune 15  2009.].               ,   Goldman Sachs  ,   , ,     .

        ( ),     ,        27  2010.:



:   ,     2007.     ?    .

: ,   .

: .         .

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         ,    ,         2007.    ,  Goldman Sachs         ,  .     ,     -                  ,    ,   2007,   2008 .        .           ,   ,    , Goldman Sachs   $1,2.          ,  ,  ,     .

    ,         ,    2006.,    ,       .     蠖           ,        ,  .    - ,     :   - ?      ,     :  .         ,        .       ,   [8 -    .].

     Goldman Sachs          2006.    .     ,     ,  ,      .     ,    ,    ,  . []    : 堖 ,        , ?    ,    .

,    ,     ,     ,    (     ,     ) ,  Goldman Sachs       .     ,  Goldman    ,         ,       .  ,       ,    ,     ,        . , [Goldman]      ,   .   :  .   ,    .  ,     Goldman Sachs,      ,      ,     ,      [9 -    .].


* * *

     , Goldman Sachs      ,      . 21  2008.,    ,  Bank of America  Merrill Lynch,  Lehman Brothers            (    ), Goldman Sachs  Morgan Stanley        ,               .     ,        ,         .                ,  -    .   .     ,  Goldman Sachs   ,   $5   ,          ( ,      ),    $5,75   .

 , 14 ,                 -            $125.           (TARP),             $700.   Goldman Sachs  $10   TARP,      ,    .       ,    ,           -,        .    ,  -        ,  -   ,  , .    ,       .     ,  ,     TARP,        .

   ,  Goldman Sachs      TARP,       ,     .  ,     TARP,   ,            ,         .      -   ,      ,          .    蠖      2009.  Goldman Sachs (    Morgan Stanley  JPMorgan Chase)    $10      $318,     $1,1 ,              TARP.

     ,            ,     27 .   ,  ,                      ,   [10 -       27  2009.]. , ,  ,                  ,   TARP       .  Goldman Sachs  ,    ,       TARP (          ),    23,15%    .

  ,      . ,     , ,  ,      .  ,   Goldman Sachs           2009.,     $13,2,    堖 $16,2,               -,           ,      .    ,     ,   ,                 .    SEC     ,      ,  Goldman Sachs     ,         .

, ,   , ,    ,      Goldman Sachs   ,    堖  2008.,      . ,  2008.,    [11 -   ,         ( 2008. 27 ). . .],       $47,41,      2008.    $165.   2009.  Goldman Sachs       蠖   $194  .   Goldman Sachs,    ,  2009.   $140,   , ,     ,      2009.  ,   JPMorgan   Capital Institute.   ,   ,   ,     ,    ,        [12 -       31  2009.].

 ,      Goldman Sachs,    -,       CNBC,     ,         ,     Bear Stearns, Lehman Brothers  Merrill Lynch.       ,  ,   Goldman Sachs   .        .       $52  $190?  .    ,        ?  , ,         ?     ,      ,       ,    ,     ,   Kesselschlacht ( -       ),    ?    ? ?   [ Goldman Sachs]? ,    ,  .       ,     Goldman Sachs   ,   Lehman Brothers. ,             ,          ,  [13 -    .].


* * *

  2009.   SEC    Goldman Sachs   ,    ,        ,       ,    .   2010.      ,          [14 -         .    . . . . .],       ,  ,     ,     ,      .

      ,    .    -      1981.       . ,     ,        ,     - .  ,   ,  -       ,         .    -    ,        . ,    ,       Goldman Sachs,              41-   43-  ,     .          . ,     .    ,   ,  ,    [15 -    .].


* * *

    16  2010.,         SEC    Goldman Sachs     -          ,     2007.     㠖  CDO (,   ),          .   CDO       ,     .    ,       :  ,  ,  ,     .         ,    ,             .

,  CDO    2007.,    ,      .     -   ,     :   CDO ,         ,       .    ,       ,  頖  . ,     ,   .       .        XXI.       . ,     -      .

   SEC    ,  Goldman Sachs    ,     ,        ,   .  , SEC ,       ,   ,   ,   .     ,      ,   ?

 , SEC ,  Goldman Sachs   -  ,        CDO,     ,          . ,     ,     Goldman,  -  ,    $15   CDO,           ,         ,    CDO,      . SEC  ,  Goldman   ACA Management, LLC,  ,         CDO,       CDO,     .

      SEC      ,        ,     ABACUS 2007-AC1,      83%   ,    ABACUS,  ,       .      2009.   99%       .  ,         $1   .

        : IKB Deutsche Industriebank AG  -  ,  $150,  ABN AMRO,   ,           Royal Bank of Scotland (RBS),           84%   . ABN AMRO   ,    $1,5    96% ,      ACA Capital Holdings, Inc.,   ACA Management,  $951,    ,    .  , ABN AMRO   ACA Capital     ABACUS.    2008.  ACA Capital , ABN AMRO,    Royal Bank of Scotland          ABACUS. , 7  2008. RBS  Goldman Sachs $840,9        .

  Goldman Sachs     ABACUS  $100 (  $15   ),    2007.        ,  ACA  IKB.    SEC ,  Goldman   ,           ,        [ABACUS]   ,         ACA,         ,  -           IKB, ACA Capital  ABN. [Goldman]            ACA ,       [ABACUS], ..           ACA,          . SEC       -      Goldman Sachs                   ,     ,        .

 ,  Goldman Sachs         - ,     ,         ,     .   30   ,      SEC        .  ,      ,  .     ,   .     .

 2009. Goldman Sachs   SEC    ,     Sullivan & Cromwell,         ,   SEC               Goldman Sachs.   SEC    S&C,    ,         2010.,    .    SEC     䠖    16 . ,       SEC  ,          ,   .   !

,        ,   Goldman Sachs,       ,  Goldman        .     SEC   ,     .  SEC     ,      ,      ,      ,     Goldman Sachs.         :         ,     ,           ,             .  , Goldman Sachs ,     ACA,      .        .   ,              ,  .

Goldman    ,   .  2006.  Paulson & Co.    ,             ,  .    CDO,                  .      IKB  ACA Capital (     ),        .   ACA     CDO    26  .  Goldman Sachs           .     Goldman    ,          SEC,           $12,4.

 SEC  Goldman Sachs    . , ACA     : 2004.              CDO  ,   $115      Bear Stearns,    .  ,   ,   ,   ,   ,   ACA,  .  ,    27  2007.     -,  .           ABACUS. , ,    SEC,   ,   ACA          ABACUS. (       ,      .)          ABACUS   ACA,         SEC  ,  ACA    .

, , ,  12  2007. - IKB     Goldman Sachs  ,   ABACUS    ,    ,  IKB           ABACUS. [] -      ,   Fremont  New Cen [tury]?  ,     ,        (    )          ABACUS.           IKB,    .   ABACUS     Fremont  New Century. (         .)    IKB      Financial Times,       ,       CDO  -.           24 ,    - ,  .     CDO    ,   IKB      .  IKB       ,      CDO    ,  .    - ,        .     - ,        .

   SEC  Goldman Sachs      19 ,     .     , 14 , Goldman,    ,    SEC ,    ,      .        $550,   $15  Goldman Sachs     ABACUS      $535.  Goldman Sachs       ,  ,  ,      ABACUS 2007-AC1   .  ,      ,    ,    ,   ACA Management, LLC,      Paulson & Co. Inc.  ,    ,       CDO. Goldman       ,         .           ,         ,       ,     ABACUS.

      SEC  Goldman Sachs (,    -    ,    2011.   ACA     Goldman Sachs    -,              $120),          Goldman Sachs      .   ,    ABACUS           -   .  SEC  Goldman           , ,    4  2010.,  -.,     .   ,             ,      ,        (  ),               ,  ,         -           ,    ,     ,    .       ,                  ,     .                  .

 ,                  (CFTC), ,      Goldman SEC       [16 -    ( 1942.)      ,         ,        . . .]  1942.      :  ,      ,   .      ,     ,      ,  .          Goldman Sachs[17 -    .].   , Goldman  ,     ,                   ,      .

    ,   JPMorgan, :  ,  -  Goldman      ,         .  Goldman   ┠  ,           ,       .


* * *

  Goldman Sachs  24  2010.,  ,    ,  27           ,    .     ,    Goldman Sachs    ,          ,        .  ,   Goldman Sachs,      ,             ,     ,        24 .         ,            ,           ,   ,               . (            ,              OMelveny & Myers,  Goldman.)

     :      Goldman[18 -     Goldman Sachs,    ,       ( ) 27  2010.   -   :           .    27  2010.]   ,  ,   900  ,      . ,   ,      ,   2007.     ,      ,       $4.

   ,  25  2007.   ,   ,            $373           $322,        $51.  ,  ,  Goldman            ,          .  ,    ,      ,  .     18  2007. ,        New York Times     ,  Goldman Sachs      .                  . ,     ,       .   ,    ,  ,    .  ࠖ      .  ,      ,    .

      SEC,    Goldman Sachs, ,                   26 ,      .  ,       ,     .      ,  -  ,       SEC,    ,     Goldman Sachs.        ,   ,     ,     .        젖  ,       ,   Goldman   Sullivan & Cromwell -      .   ,         .  ,  Goldman   . ,  Goldman       .

 Goldman,      ,                SEC,       ,       ,      .   Goldman Sachs ,          ,     :         . ( , ,   ,   .)

  27    , -     ,              .          Goldman,    : ,  ,    ,     ,  .        ,    .  ,   ,   ,      .           Goldman    .        ?  .       ?   -  ,   :      Goldman Sachs,      ,  -         ,       .    :  ,           ,    ,  ,    ,     ,    .    , ,  ,    -  ,    .


* * *

    Goldman Sachs,    11 ,         ,    ,    ,       , ,   .        :           .      ,       .     ,  Goldman       ,       ,          CDO,     , -     SEC,   , ,   ,    . (     ,             .  SEC  ,    ,    ,    .) ,       ,     Goldman,   11  2007.   ,    Goldman   ,     .

      Goldman.  ,    ,   ,          ,        . ,  Goldman               ,  .              .        , Goldman    .     ,    Goldman  ,    ,      :           ,      .   ,     ,      .

   ?   . ,  ,  ,  ,   .  Goldman Sachs    蠖  ,    .     ,                 ,    ,  .     ,   Goldman   ,         .        , Goldman Sachs ,    .     ,   Goldman     -  ,       ,   ,   .

        , ,   ,  ,   Goldman Sachs     .     ,  Goldman,    .        CDO Timberwolf.   2007.  Goldman   Greywolf Capital,     Goldman,     $1䠖           ,   . ,       Timberwolf,     2007-.  - Bear Stearns     Timberwolf  $400     .  - Basis Yield Alpha Fund  $80   Timberwolf   $100,      $50,    Goldman ,        .  Goldman   27 ࠖ     㠖    .

         . (   ,  - Bank of America,          .)    ,     ໠ ,   ,  ,     ,   ,        Goldman         .     ,    . ,   ,  ,  .     22 . ,       Timberwolf.           22  2007-?

 ,   ,  ,     ,     ,  . ,  ,     ,     씻.    Goldman :              , , ,   . ,    ,  ,  ,  ,     , ,   ,    .     ,     ?  . ,  . , ,   ,      :  ,     ! ,    .   ,     . , []    ,      .

,   Basis Yield Alpha Fund,   , ,   Goldman    ,     Timberwolf ,           . Goldman           Timberwolf,   .   Goldman   [-] Timberwolf   . (Goldman     Basis      .)

           Goldman,          Timberwolf  .   ,  Goldman  ,         Timberwolf.   ,         ,   ,   .      .          ,  ,  ,           ,  .

    ,   Goldman,        :   ,  Goldman Sachs       ,      ?     ⅻ      ,   :   ,          ,  - ?

 頖 , , 頖         : ,      -  ,  . ,     .

   ,   ?  .

,    ,  ,     .

          ?  .

,     ,  .

    !  .

 ,  .

      ,        :       ,      ?    ?

     ,   ,  ,  .     ,           ࠖ ,   , , ,  .         ,     , -       . ,     , ,   ,  ,   :  ,        ,   ,      .      ,   ,    .

     , ,   ,             ,      ,   Goldman  .   ,     ,     .           ,    .      .       .       -.

         (-   )  ,    -   ,         ,  ,   CDO.      ࠖ ,    21  2010.

   .   Goldman         ,        ,      ,   ,    ? ,  ,   CDO ,     ?      ?     ,   Goldman   ,    2011-     $1,5     Facebook,   $50,  ,           ,       $375      ,   ,     Goldman,     ,     ?

       ,      CDO     ,     - .     ,              .      ,  .      ,   ,      锠     .         (   ) ,    , ,  .         ,    ,        -  .    ,    ,     .     ,      ,   .    ,       .  ,  ,      , 蠖    -   ,       .    ,      .

        .  ,     2006-      ,      ,        ,   ABACUS, Timberwolf   ,      .  ,   ,       ,  ,   㠖  ,  ,        ,    .        ,   ,     .   ,    ,          .    ,     .      .  ,     堖  -,    ,   .   ,    -,   ,    ,      .     .

      ,  16  ,  SEC   ,          ,          .   :     ,      .       140 ,    ,      ,   .

             ,     ,      . Goldman Sachs,     ,  .      ,      ,    ,      ,         11     SEC     .

,       Goldman,  ,    .              Goldman          -      Goldman.     Goldman   :      ,     .           .   Goldman            (   ),    ,      .  ,  Goldman      -  ,     Sachs.      ,      ,     .




 1

 


,     Goldman Sachs,    1869.       ,    ,  ,   1848.    ,    ,    .             1848.,    ,  ,  1844.     ,  ,   젖     ,           .

    -  , , ,    ,     (Our Crowd),    , ,   ,         ,    [19 - Stephen Birmingham, Our Crowd: The Great Jewish Families of New York City (New York: Harper & Row, 1967).].      27 .        .   1850.,     ,     :     -      -.         (  ,    ).      1848.   ,     .   ,   ,         [20 -  .].  ,    .  1860.     ,     ,    : , , ,   .      $6000     $2000.       .

 1869.       -.       ,            .     4  --.         ,       ,    .

      -, 30,   -  .    ,          ,    ,   .      ,      , ,   ,      ,    ,      (        ).     :  ,   .

   ,    .     ࠖ      ,              -    ,     ,      .        .  : ,   ,  .           ,   -                     .            ࠖ  ,    ,       .         (        ,      ,           ),           , ,          .

  ,           8  9%.       $2500  $5000,           .         ,       .  ,            ,    ˸,   .      ,    .            蠖  Commercial Bank  -, Importers and Traders Bank  -  National Park Bank  -c,    ,  ,  .   ,    ,    ,      ,     .          . (,     140          .)   ,         $5  .      5   ,      $250 000  䠖    1869.

   .        -, 649.       䠖     ,         . ,              (1,6)   ,      .  ,    .

 13 ,     ,      (           ),   ,    ,     ,    1880.  $100 000.      .   1882.,    60          $30  ,    .  ,     蠖  ,   , .       ,              ,    ,  ,     1848.,    .

  , ,   ,        .    ,    ,  ,        .   ,   ,              ,  .    ,       ( ,     ;  ,        ).

   .       ,       -,  ,     ,   1871.  59-      .          .          ,   ,   ,       ,   ,  .     ,     ,  .              , ,   ˸.  ,        ,   ,      ,  .

        ,     ,        .      ,      15      .

 1882.,     31 ,     .         .   ,     $15 000,         .          $10 000.  28  1884.    , ,                 .   ,                 .           .  ,    ,      72         (   1980.  96 ),   ,     ,        Goldman Sachs.

                 -, ,  ,   .     M. Goldman & Sachs. ,    . ,   1884.     ,       ,  .      Goldman & Sachs     $1100,        [21 - NYT, March 19, 1886.].       6    .  ,     ,   ,    .      , ,        . ,                 .     Goldman & Sachs           (,        XX.    Goldman Sachs)           ,          ,  ,   ?      ,   ,           .              .     1886.   ,   Goldman Sachs,    ,     .

    ,  M. Goldman & Sachs   .  1885.            ,        Goldman, Sachs & Co. (     Goldman, Sachs & Dreyfus.)        ,   -.       -    70-  .     . ,  ,    74-  ,  ,  ,     76-  .

  1893.      $22,5.  5%  [22 - NYT, December 6, 1893, and December 9, 1893.].       N. J. Schloss & Co.,    ,   . ,     $50 000,    ,    :     ,     .          ,      .

 1894.     ,  .          -, 43,     10     .  Goldman Sachs     $585 000,   䠖 $200 000,     34,2%,   ,         .  1896. Goldman Sachs    -  .   1898.    $1,6   .

           1899.       $1.   ,          $500,    ,      ,     - ,     .     Goldman Sachs   Lazard Fr?res & Co.,      -,      .  Goldman Sachs    :   , , ,            .

    ,      (        ).  1891.     ,        ,  ,             ,   -     [23 - NYT, December 21, 1891.].  7500                 ,   -,     .      :    ,     .   New York Times, ,           , ,   ,        [24 -  .].

     Goldman Sachs       ,     -,    ,  , -,   -,    90   -.   ,         -,         ,       ,  -.          .   ,      ,     ,      ,       .         .            .

      -     堖   , ,   ,    軠 ,   ,  . ˸,         . ,  - ,  ,    -               .             , ,    .   New York Times, 20  1904.  ,       ,       ,   .      Goldman Sachs         ,   .


* * *

,            ,           -.   Goldman, Sachs & Co.      ,      . Goldman Sachs     ,        .   XX.  ,  ,   ,   -   ,    .      ,     .

 ,          -   ,    Goldman Sachs  .      ,    28           -.  ,           ,                 ,       .    ,               ,      . ,            ,      , ,    ,     ,      .                      ,     . ,     2007.           ,       ,   .

  ,         .   ,      ,     : ,           .      ,    :       .         ,   ,      ,       .       .   ,   ,     -   . ,  ,     .        ,    ,              [25 - Lisa Endlich, Goldman Sachs: The Culture of Success (New York: Touchstone, 2000), p. 35.].     ,     .   ,      ,     .          ,   ,       .      젖       ࠖ        .

    ,      -,  Goldman       .  , ,        .      1904.         1905.    .  젖     ,   ,   .           ,    ,    :    ,     .      ,     :       ,     ,       .   1907.        .   -    1907.       :   ,          .          .     :   1907.      : ,  ,   [26 - WSOH, 1956, p. 22.].     Goldman, Sachs & Co.  2  1908.        -,   .            ,   .

 Goldman, Sachs & Co.      ,        ,    Lehman Brothers,   ,   ,       ,  .  ,       ,     ,    Lehman Brothers      1907.

      ,      .            .       Goldman & Lehman,        . ,  ,   ,    ,     ,  ,         ,      .        : Lehman  , Goldman Sachs   . ,         ,     ,   .

Goldman             1906.,  United Cigar Manufacturers Corporation    $4,5    .  3  Goldman         4%-    50     .       ,  ,  Goldman Sachs      .

  .       ,  ,   ,  ,     ,        .        ,     Sears, Roebuck.   1906.     ,         -,       $5. Sears            ,    . ,      :         Sears,      Goldman  Lehman Goldman Sachs:  c Lehman Brothers?   ,        ,   .       ,    (    ),        ,    (       1907.).     IPO,      ,   ,         Sears.  1904.   Sears  $27,6,    $2,2; 1905.      $37,9,     $2,8.  1897.  Sears  $237 000, ,          10 .  , Sears   IPO.

    .  ,      ,  Goldman  Lehman  .       IPO ,    ,   ,  Sears,    ,      .  Goldman  ,         ,     ,       -.     Sears    ,        ,      .    ,          ,   Goldman Sachs      .

   Sears Goldman  Lehman   $30   $10     7%. Goldman   $97,50  .   -    ,     1964.,   IPO Sears.   ,   ,      .         ,    ,     [27 - WSOH, 1964, p. 218.].

,   ,  Goldman  Lehman       .  ,           Goldman      Kleinwort, Sons & Co.    14    ,     ,  Underwood Corporation  1910.;  May Department Stores   1910.; Studebaker Corporation   1911.; F. W. Woolworth Company, B. F. Goodrich Company  Diamond Rubber Company  1912. Continental Can Company  1913.  , Goldman   Diamond Rubber Company  B. F. Goodrich  1912.   Sears             [28 -  , pp. 3334.],   .   Woolworth   Goldman.       [29 -  , pp. 9697.],  .    -  ,          .    .       .  ,       ,    ,  .  -       ,       ,       :         唻.


* * *

    -   ,   ,    . . ,    ,               1913.        -  Goldman Sachs   ,        . , 6     -              ,  -       .  ,    -        ,  -ꠖ   .        ,      -   ,       ,    ,   -         .       ,   ,    -      ,   Goldman Sachs          . ( ,     -,    Goldman.)

            ,    ,   .           , ,         ,     ,        ,     ,      ,        [30 -   6  1914.    -      -.].   ,            .          ,    .

,     ,     ,          ,      .              1907., , ,   ,           .        ,   .             ,      ,      [31 -  .].

  ,  ,   ,     ,                .  ,  ,       1914.,   2008.       . ,   [ ]           ,     ,     [32 -  .],  .

 ,     ,        : ,             .  ,      ,      ,        .       ,  .

           ,    (   ,    ?),         1914., ..    ,     Goldman, Sachs & Co. ,    ,   ,            Kleinwort,  Goldman Sachs   , ,     ,     - ,        .    ,   ,     .

       ,           ,        .          $500,   -        (, ,      1917.).  ,        Kuhn, Loeb. ,     ,   , ,        ,         ,          ,   . ,  ,           ,     ,       Kuhn, Loeb    .        ,   ,            ,   ,        ,  .       .    .

            ,          ,  . Kuhn, Loeb,  ,   ,  .       $500    J. P. Morgan,     -   ,       .   Goldman Sachs      ,                      . ,             . ,      ,            ,       ,  ,  ,         .  Goldman Sachs,   Kuhn, Loeb,          .      J. P. Morgan and Company               ,         ,   .   ,            .

            ,       .  ,   ,       26- .  ,  ,        .       ,          ,  .     .         Kleinwort     ,        ,   . ,    ,  .     [33 -  , p. 39.].     31  1917.,  8      .     ,         ,        ,     ,   !.          (    ),        35       [34 - Endlich, pp. 4243.].

   Goldman Sachs       .       ,      [35 - WSOH, 1956.].         .  ,     ,   ,    ,     .   - ,     [36 -  .],   .       CIT Financial,    ,  May Department Stores,    Sears, Roebuck.    , ,     ,        ,      .

         ,   .         1922.,          . ,    ,   :      ,     -   ,   .  ,     [37 -  , p. 40.].

   ,   ,  ,    .     . ,       ,    ,        ,   .                ,              .    ,          ,  Sears, Roebuck, Woolworth  Continental Can.     [38 -  , p. 41.].         .

     ,        .        ,   .     ,            .   Lehman         ,  - ,            .  Lehman Brothers  Goldman Sachs      ,  ,        ,  .   . ,  , Goldman Sachs    ,        ,     ? Goldman, Sachs,   , ,         ,     Goldman Sachs?     .     ,   ,   .        ,   60   ,    Goldman,  ,     Lehman.   , Goldman   : 41  60    ,   , ,  Sears.

,  Lehman       ,        Goldman Sachs       .        ,    : , , , , .  ,     ,  ,   ,       .     ,    ,     ,       1912.

      ,  ,  ,   .     [39 - WSOH, 1956.]       Sloss-Sheffield Steel & Iron            .             ,     ,      . ,      ,  ,   ,    ,     -,         .    .




 2

 


     ,  ,         .  1901.   ,   1904.   . New York Times    ,            [40 - NYT, January 1, 1968.].  1907.    Sullivan & Cromwell,        -,  $10  .      ,   1907.,      ,   .   ,     ,    .

  1907.,        , Milliken Brothers,       ,   Sullivan & Cromwell      ,      $6,5   $3 ,   . Milliken,   -,          -    -,       ,   ,  .    Milliken,    -  $1,35,    .     Milliken       ,    ,                -     .        ,   1907.        .

   ,  ,   -,           Milliken,           .  1909.       Milliken,      ,      .

  1910. Central Foundry,   ,    ,   , ,   ,        ,  , ,   ,   [41 - NYT, February 13, 1910.].       Central Foundry.    ,      .          ,    ,        ,     .      Central Foundry    ,     .

         ,  J. P. Morgan & Co.,     .      -         ,   Time.     ,  ,  ,    .          , ,  ,   [42 - Time, September 14, 1925.].   1917.     Sloss-Sheffield Steel & Iron,   ,  .    1917.                        .

              .         ,       ,  Milliken Brothers  Central Foundry.  ,  ,  ,          ,     .       ,   -  .    , ,       ,   ,      [43 - NYT, January 1, 1968.].           Pollak Foundation for Economic Research    ,     ,     ,     ,       .     ,  ,          .     ,     [44 -  .]. ,  ,       XX.   :   [45 - Lisa Endlich, Goldman Sachs: The Culture of Success (New York: Touchstone, 2000), p. 44.].

   ,   1  1918.   Goldman Sachs.    ,      .      :     ,       .    ,        [46 - WSOH, 1956, p. 43.],   .      .  ,  .      ,  .      .   ,       ,   .              .        ,   ,  , ,    ,   , ,     ,        .     ,       .


* * *

     ,       ,   Goldman Sachs  1920.      -, 60,     $1,5 12-     -, 3032,      ,     .

   Goldman Sachs .       [47 -  , p. 44.],  National Dairy Products Corporation,     Hydrox  , Sheffield Farms  -  Rieck McJunkin Dairy Company   (    Kraft Foods).     ,     General Foods Corporation (   Postum Cereal Company, Maxwell House Coffee, Jell-O   ).     ,      ,   Goldman Sachs    ,   Goldman     .

         ?     Goldman Sachs.                ,     .     ,     ,        ,   .      ,           .      ,     . ,  ,       .       ,    :        [48 -  .].

   ,     .    ,    ,  .       [49 -  , p. 45.].        ,    , ? .  ,    ,    ,   ,  .  ,  ,   .  ,      ,     ..,     .   ,         .  1928.    Goldman,      .        ,        ,        .   :     ,      ,     씻[50 - John Kenneth Galbraith, The Great Crash, 1929 (New York: Mariner Books, 2009, paperback reprint edition), p. 43.],           (The Great Crash[51 -  . .   1929 . : , 2009.])       .  ,    Goldman         .


* * *

   ,  ,   .        XXI.,     1920-.      ,   ,     ,           .   ,      ,   .   ,         South Sea,    [52 - John Kenneth Galbraith, The Great Crash, 1929 (New York: Mariner Books, 2009, paperback reprint edition), p. 49.].  ,  , , ,     ?10  ,       ,    1714.          South Sea Company        .    South Sea  6% ,   ,      .       ,  ,  ,     .      South Sea,   ,      ,      ,      .     ,  -    [53 -  .].

      Goldman Sachs,    ,    1928.,   ,   South Sea Company   XVIII.  ,     ,  .      ,      [54 -  .].        -,      .        ,        ,         ,        . ,         ,     .         ,        (   ).  ,      ,      .       -,  Fortress Investment Group  Och-Ziff Management Group (      Goldman),        ,      .

       SPAC       ,      .       , ,  ,    ,         . ,   -          ,       ,      .         1920, 1980  1990- .     XXI.   -    .     ,       ,     IPO,      ,        .      ,    , ,  ,  .     ,    .

 ,  Goldman   .         1880- .,       ,           .  ,          , ,    ,      ,         ,  .          ,  [55 -  , p. 47.].           ,     ,  -    ,       .

      .   ,   SEC 1921.   40  .   1927.      160 ,   140    .  1928.   186  .   1929.       ,      ,         265.    ,      ,    , IPO      ,    ,    ( , , J. P. Morgan & Co.),   . ,      ,      ,       . ,        .  ,  ,            ,  ,  ,      ,     [56 - Warren Buffett, Chairmans Letter, Berkshire Hathaway 2001 Annual Report.].

  1929.  ,    State Street Investment Corporation,         ,    Atlantic Monthly  ,   ,    .  ,     ,  :   ,             ,          .   ,           -  ,      .   ,      .    : 1) ; 2)   ; 3) .

       ,         ,       2008.          .  ,       ,         .      ,  .     ,            .     ,      . ,        .           .  ,  ,     $100,          $800  $1000;         .

,       ,   Goldman Sachs,  Goldman Sachs Trading Corporation. , Goldman    ,     4  1928., ..        ,       .      ,  Goldman Sachs Trading Corporation   [57 - Galbraith, p. 60.],  . ,          ,      ,    .

   .    Goldman    Trading Corporation  $100   ,  , ,  $100,     90%    $104  .     $93,6,   $4      .    Trading Corporation     125 000    $126  ,  $15,75. ,  100 000  Goldman     .   Goldman          10%,           .   Goldman Sachs      Goldman Sachs Trading Corporation,       Trading Corporation   .

 2  1929.  Trading Corporation   $136,50,  7     $222,50, ..      ,       ,  $100.            Goldman Sachs[58 - Galbraith, p. 61.],   .


* * *

   ,  Goldman          .  , Goldman Sachs     .       1932.   ,      1929.,   Goldman,      Trading Corporation    Trading Corporation  Financial and Industrial Securities,          ,    . ,   1929.       ( 1934.       ,          ),           ࠖ     Trading Corporation       .

     1925.       Financial and Industrial Securities Corporation.             , ,   ,      ,  32%  Manufacturers Trust Company,    -.    45%  Financial and Industrial Securities Corporation.   1928.     ,  Manufacturers Trust    ,  Goldman  - .          ࠖ [59 -  ࠖ  (Glass Steagall Act)   1933.,      ,    XX.     :       ,               . . .],      ,   .      ,       Goldman       Financial and Industrial.     32%  ,       [60 - Trust, p. 589.]  .              Financial and Industrial - ,       [61 -  .].

     , 4  1928., Goldman  Goldman Sachs Trading Corporation     Goldman          10 .  ,     : , ,         [62 -  , p. 590.].     Goldman   -    :   Trading Corporation   .      ,   Trading Corporation     Goldman, Sachs & Co.     ,  ,  Goldman, Sachs & Co.      [63 -  , p. 591.].  , ,      -      ,             ,      [64 -  .].         Goldman.         , Goldman Sachs & Company        ,        .   ,     - ,     ,        ,  Goldman Sachs,     [65 -  .].

  IPO  Goldman  100 000  Trading Corporation,    $1, .. $10  . ,        $104, ,    Goldman,  .   Trading Corporation       -,    IPO,  Financial and Industrial  49 000   $102  ,     $5.

  ,  Trading Corporation     ,    IPO         .    ,     Goldman,         ,  ,         ,        Goldman Sachs Trading Corporation  Goldman, Sachs & Co.[66 -  , p. 592.].

     ,         Financial and Industrial.  ,  Goldman           ,     Financial and Industrial,          ,    Goldman.   ,    :     ,    ,  Goldman?    ,  Manufacturers Trust , ,       [67 -  .],        ,  ,           1929.  ,       [68 -  .]  ,   . ( ,    .  1929.,    Goldman    Financial and Industrial,      Manufacturers Trust, National Liberty Insurance Company, Baltimore American Insurance Company  Peoples National Fire Insurance Company,       ,     Goldman     $20.   1929.   Liberty Insurance  Baltimore American      Manufacturers Trust Company.    1929.        24 ,  Goldman.)

  1929.    ,       ,   :     .        $60   Financial and Industrial, ,      /      ,   Goldman,                  . (  ,       ,     ,  ,      ,    ,         .    ,    Berkshire Hathaway      .)

  1929.  Trading Corporation   $139 (,   IPO)     $108  , ..  /  1,26.  Financial and Industrial     $143,      $80  ,    /  1,78.           ,      ,     ,   Financial and Industrial  ,   Goldman.      ,   ,    蠖    ,    ,   ,              ,     ,     Goldman,      .

 ,      頖         ࠖ    .     1929.    .    ,  ,  ,      [69 -  , p. 596.]  .   , ,   Goldman,  , ,  , ,  Goldman Sachs       Manufacturers Trust     National Liberty,        Financial and Industrial,      .   ,     ,                .  , -      .      ,    1929.   ,       Goldman.   ,            .         ,     .          ,    [70 -  , p. 597.]. ,    Goldman Sachs Trading Corporation     ,       ,       1929.

     3  1929.   Goldman Sachs        .    3  Goldman  4,4%    ,  ,   , 16,6%.     ,    Goldman.   ,   10 ,         Goldman,      ,       .       Trading Corporation,        .

 ,          ,     . ,     , Goldman   ,     [71 -  , p. 599.],                ,       ,      ,    ,     ,   ,            .     ,         Goldman       ,   ,   50-           Financial and Industrial[72 -  , p. 600.].

     ,       3       Trading Corporation,   $68 (   ),       Financial and Industrial,       $145. ,     .

        ,       Goldman Sachs,     Trading Corporation,    Goldman,   ,  ,     Trading Corporation.      ,     Trading Corporation      .    Trading Corporation       ,     Financial and Industrial.       Trading Corporation        Financial and Industrial.  Goldman     ,      Trading Corporation     ,  ,  .

     3 ,     4      ,   ,      Trading Corporation  Financial and Industrial.    Goldman Sachs Trading Corporation ( Goldman Sachs)  Delmar Capital Corporation (  ).    ,        Goldman Sachs Trading Corporation  Financial and Industrial Securities Corporation     ,           [73 -  , p. 610.]. ,      30 ,           Trading Corporation.        30 ,   ,         . Goldman            ,      . (      30 ,       Goldman.)

 ,   ,     ,             ,  . Goldman -   Trading Corporation,     ,           .        Goldman      . 2 1929.   Trading Corporation  $136,50.         .  4             [74 -  , p. 611.]  .

 Trading Corporation    11 ,   ,      $175  , ..   40      .        , Goldman    ,     ,     53 000 ,   54%    .     $178  .    Goldman   42 300 頖 76%   ,    ,      $179,625. Goldman         Trading Corporation.    ,    Trading Corporation   $221. Goldman  $33,325    Trading Corporation,   4  64%           ,       Trading Corporation      . -     Trading Corporation    ,  3      ,  ,        .              (    Trading Corporation      $4,5,       $117,5).

   7        , 11    ,     Goldman Sachs Trading Corporation   1125  ,     Financial and Industrial,          ,   21 .  Goldman     ,    Financial and Industrial     Goldman.        Trading Corporation,    ,       . ,   Goldman Sachs Trading Corporation          ,   ,     Financial and Industrial Securities Corporation,   ,               ,     .                  ,        ,    [75 -  , p. 623.].

     ,      ,       Goldman Sachs Trading Corporation,  ,  -             21    .           $50 (      )    頖   .       ,    :         , .. $25. - ,  ,  ,    ,   .        :    ,     ,    ,         Goldman Sachs Trading Corporation.           ,       ,        .   ,     ,        [76 -  , p. 625.],  .

  21       , Trading Corporation  2,25    $235,    Financial and Industrial Securities Corporation,     $117,5. Goldman       ,          .        Goldman Sachs Trading Corporation[77 -  , pp. 62627.],   .      ,      ,    [78 -  , p. 613.],   .

  ,      ,  .

  ,  ,       ,     ,     ,               , ,   ,    $220        ,  [79 -  , p. 614.].

       Goldman.         Goldman, Sachs,     [80 - Galbraith, p. 61.],  .    1929.   Financial and Industrial  ,    -       New York Times       , ,      [81 - NYT, April 4, 1929.]       .   ,  ,         .           ,  .      -,   ,  ,       ,   ,   ,   ,      ,   .


* * *

  26      Goldman    .      Goldman  Shenandoah Corporation,       $102,5. ,             ,    Goldman Sachs Trading Corporation  . Trading Corporation  2  5  Shenandoah,   Goldman       . Goldman   Shenandoah  $17,50,           $36  , ..   100%  .  25     ,       $142     Blue Ridge Corporation,        Shenandoah.  7,25  Blue Ridge,  , Shenandoah  6,25, ..  .    Goldman Sachs     [82 - Galbraith, p. 62.],  .

    ?   New York Times,      Blue Ridge   Goldman Sachs Trading Corporation   $500[83 - NYT, August 20, 1929, p. 84.],   ,         ,   Shenandoah       . Blue Ridge    ,          ,     21  -   ,     AT&T  General Electric.      ,   ,     ,    General Electric,  Blue Ridge,      General Electric.    -  .    Blue Ridge   Goldman, Sachs  $1 (   $1,7)             -   .    Shenandoah  Blue Ridge      ,  .     ,      .       ,       [84 - Galbraith, p. 64.].

    ,   ,      Blue Ridge,  ,     .            ,   ,    Blue Ridge.  - [85 - WSOH, 1956, p. 49.],   ,      ,    .       -,       (     Plaza)   , ,   ,   ,  ,      .     .  , ,  ,      [86 -  .].

   ,  Goldman   $10    $3    Goldman Sachs Trading Corporation.     Goldman   .       .

,    ,      :      .       .   .  ,   . ,   10  11  ,     .     .   .   ,   .  -  .     .  ,   - [87 - Studs Terkel, Hard Times: An Oral History of the Great Depression (New York: New Press, 2000), pp. 7274.].  ,   -      J. P. Morgan  -  ,       .     ,  .  ,   ,  .     .       .            .  ,    ,  ,       ,   .       ,  .   ,  -   ,  .   ,    .        ,      .          .    ,     .

       1929.    ,   ,  ,   [88 - NYT, February 28, 1930.].      ,    ,    ,   1930.  [89 - WSOH, 1956, p. 46.].      -  :   $20 ,            $10.           .       $50,     ࠖ    $20   ,   .      ,   .

     ,    .                  ,  Goldman      $50?    ,  .     ,   .   ,          [90 -  , p. 46.          .].    :    ,   ,      ,   .

  ,         ,   ,     ,   ,     . ,     ,   ,  .   ,   ,  .          .        ,  .     Century,  ,            [91 -  , p. 47.].      Chicago Club    .    ,        $50   ,     .   ,      ,          .      26 ,  ,     [] ,    .   . ,     ,        ,  .    ,    -.

    Goldman     -  .   ,       Goldman Sachs Trading Corporation        ,     ,     ,   1930.     .       910  ,  .   ,        4 .    ,      .      Trading Corporation    $32 (      $326),  ,  1931.,  $1,75  .  1  1932. Goldman     Atlas Corporation,    ,   Atlas     Trading Corporation,    Trading Corporation     .  Atlas  Trading Corporation   1932.    Trading Corporation Atlas  ,   , .     ,   ,          Atlas Corporation[92 -  , p. 48.]. -    ,     .      ,   , ,      .

       ,  .   ,   1929.     ,   ,   ,   ,  ,   ,   . ,      , ,   ,  堖   .    1930.,             ,       .        1930.,     ,      .       ,  ,  -          ,     .

 ,  Time    [93 - Time, August 21, 1933.],     -  ,     .   ,      ,  ,           ,     .   ,       ,   [94 - WSOH, 1956, p. 49.].    $13,     $250 000 ,      .        .    ,    ,     37  .        .      Trading Corporation, ,        Goldman Sachs.

 ,    Goldman      ,      ,     .          ,   .      .    ,          Goldman Sachs Trading Corporation,         United Corporation.  J. P. Morgan and Company, ,     .        [95 -  , p. 50.]. ,  ,  Goldman      ,  .   Sullivan & Cromwell  Goldman      , ,    [96 - NY, November 10, 2008.]    1968.,      .

          .    ,        ⠖ $100,   ,         .     2009.,    Saturday Night Live  ,  Goldman     ,   ,     .       2011.,    Goldman  Facebook, ,  ,    SEC,      ,     500 ,   : , Goldman!   - ,     ? ,           ,      .

 ?    .

    :   Goldman Sachs[97 - NYT, July 29, 1969.].




 3




  ,  Trading Corporation   ,      ,  Goldman Sachs     ,      [98 - WSOH, 1956, p. 51.].   Trading Corporation   -    ,   Warner Bros. Pet Milk Company  -.  ,         Ⅰ  . ,  ,   National Dairy  General Foods,      [99 -  , p. 53.].      Goldman Sachs.    Fortune,     1929-  Goldman Sachs  -      [100 - Lets Ask Sidney Weinberg, Fortune, October 1953, p. 174.].

             ,   ,             . ,     ,      2006.,       -     .      ,  .        ,        .     ,    [101 - WSOH, 1956, p. 81.].   , ,  ,              Trading Corporation,        , , ,        .

   ,   1935.,   .       ,   .  ,  -     :      .   렖  ,     ,   1932-, 1933-        [102 -  , p. 52.].

 ,      젖 National City Bank, Guaranty Bank  Bankers Trust Company,      ,      :                -.      ,  .  ,   ,   ,    .     .    .     [103 -  , p. 82.].         1935.     -      .       ,  .        ,   ,      .      .        .

Goldman Sachs     ,      . -,   ,       ,        [104 -  , p. 53.],  .  -, , ,  ,     - ,      .  1907.     ,           -.


* * *

    New Yorker   -.    [105 - E.J. Kahn Jr., Directors Director, NY, September 8, 1956, p. 39.],         163, ,     .  ,     ,     Goldman,      1956.,      ,    ,   , -,            .      ,       -[106 -   (18701965)  ,  ,      .          . . . .].    -     ,        .     ,       ,   ,             .

    12  1891.       -   (-) ,   New York Times,   [107 - NYT, July 29, 1969.].     11      ,  ,   ,    .  - ,      90       [108 - Time, December 8, 1958.].       ,        ,          .     ,           ,   -. (,          ,   .)        .     [109 -   (18321899)  ,     ,       . . .],      ,   [110 -   (18091865) 16-  ,            18611865.,    .     . . .].

 1905.        John H. Jacqueline.    [111 - NY, September 15, 1956, p. 62.],      Charles M. Schott & Co.,     De Coppet & Doremus.   ,       ,        , , ,    .      ,      ,   , [112 -  .],  . . -. (           .)

      1906.,       13.     , ,   ,     .   ,  ,   ,       .        ,  .     .        ,   ,    ,    [113 - NYT, July 29, 1969.].  ,   1953.,     30   ,       ,    ,           ,   [114 - Fortune, October 1953.].        ,               , ,  ,                     ,           .

   ,              :       13.   ,      State Street Bank       (             Atlantic),    .   (,   ,    ,  -)  ,               ,      25 .   ,       ,  :  -[115 - NY, September 15, 1956, p. 60.],    ,     -.      ,      .       ,   1954.    ,     -  ,      ,     ,        21  52-  ,      13     ,     .    ,   蠖  ,   [116 - Fortune, October 1953.],           -.

,  1907.      $2      [117 -  .] ,    ,     .    ,    -,       .       ,       .    ,      J. S. Bache & Co.,      -.   ?[118 - NYT, December 16, 1967.]  .      ,       :          .   ,          $5   (        $10),    Trust Company of America,         .     23 ,     ,     .      .      ,       -[119 -  .] ,  , ,  .   ,        Trust Company,       .     25-    -, 43,          堖      .    ?[120 - NYT, February 8, 1942.]  .

     ,   Goldman, Sachs & Co. ,    ,    ,      .  ,            $3  . ( ,    ,      .)          ,         .            .           [121 - NY, September 15, 1956, p. 65.],    ,    :    ,         ,         .       -, 43,           .

,    ,    ,                   138- .  -     ?      .    [122 - NYT, December 16, 1967.].         堖         .   ,    ꠖ ,    ,        ,      .         -   ,    $50. (  ,    .)  ,   ,       $25,       - . , ,  ,   .  ,   ,    - ,   .  ,  Goldman Sachs   ,    [123 -  .]




  .


   .

   ,     (https://www.litres.ru/uilyam-d-koen/dengi-i-vlast-kak-goldman-sachs-zahvatil-vlast-v-finansovom/)  .

      Visa, MasterCard, Maestro,    ,   ,     ,  PayPal, WebMoney, ., QIWI ,       .



notes








1


Martin A. Armstrong, Looking Behind the Curtain: The Real Conspiracy, April 9, 2009.




2


Matt Taibbi, Rolling Stone, July 923, 2009.




3


Jonathan Alter, The Promise: President Obama, Year One (New York: Simon & Schuster, 2010), p. 314.




4


 .




5


   (. 1930)  ,      ,   ,  19891992.   . . .




6


      27  2009.




7


        Fortune 15  2009.




8


   .




9


   .




10


      27  2009.




11


  ,         ( 2008. 27 ). . .




12


      31  2009.




13


   .




14


        .    . . . . .




15


   .




16


   ( 1942.)      ,         ,        . . .




17


   .




18


    Goldman Sachs,    ,       ( ) 27  2010.   -   :           .    27  2010.




19


Stephen Birmingham, Our Crowd: The Great Jewish Families of New York City (New York: Harper & Row, 1967).




20


 .




21


NYT, March 19, 1886.




22


NYT, December 6, 1893, and December 9, 1893.




23


NYT, December 21, 1891.




24


 .




25


Lisa Endlich, Goldman Sachs: The Culture of Success (New York: Touchstone, 2000), p. 35.




26


WSOH, 1956, p. 22.




27


WSOH, 1964, p. 218.




28


 , pp. 3334.




29


 , pp. 9697.




30


  6  1914.    -      -.




31


 .




32


 .




33


 , p. 39.




34


Endlich, pp. 4243.




35


WSOH, 1956.




36


 .




37


 , p. 40.




38


 , p. 41.




39


WSOH, 1956.




40


NYT, January 1, 1968.




41


NYT, February 13, 1910.




42


Time, September 14, 1925.




43


NYT, January 1, 1968.




44


 .




45


Lisa Endlich, Goldman Sachs: The Culture of Success (New York: Touchstone, 2000), p. 44.




46


WSOH, 1956, p. 43.




47


 , p. 44.




48


 .




49


 , p. 45.




50


John Kenneth Galbraith, The Great Crash, 1929 (New York: Mariner Books, 2009, paperback reprint edition), p. 43.




51


 . .   1929 . : , 2009.




52


John Kenneth Galbraith, The Great Crash, 1929 (New York: Mariner Books, 2009, paperback reprint edition), p. 49.




53


 .




54


 .




55


 , p. 47.




56


Warren Buffett, Chairmans Letter, Berkshire Hathaway 2001 Annual Report.




57


Galbraith, p. 60.




58


Galbraith, p. 61.




59


 ࠖ  (Glass Steagall Act)   1933.,      ,    XX.     :       ,               . . .




60


Trust, p. 589.




61


 .




62


 , p. 590.




63


 , p. 591.




64


 .




65


 .




66


 , p. 592.




67


 .




68


 .




69


 , p. 596.




70


 , p. 597.




71


 , p. 599.




72


 , p. 600.




73


 , p. 610.




74


 , p. 611.




75


 , p. 623.




76


 , p. 625.




77


 , pp. 62627.




78


 , p. 613.




79


 , p. 614.




80


Galbraith, p. 61.




81


NYT, April 4, 1929.




82


Galbraith, p. 62.




83


NYT, August 20, 1929, p. 84.




84


Galbraith, p. 64.




85


WSOH, 1956, p. 49.




86


 .




87


Studs Terkel, Hard Times: An Oral History of the Great Depression (New York: New Press, 2000), pp. 7274.




88


NYT, February 28, 1930.




89


WSOH, 1956, p. 46.




90


 , p. 46.          .




91


 , p. 47.




92


 , p. 48.




93


Time, August 21, 1933.




94


WSOH, 1956, p. 49.




95


 , p. 50.




96


NY, November 10, 2008.




97


NYT, July 29, 1969.




98


WSOH, 1956, p. 51.




99


 , p. 53.




100


Lets Ask Sidney Weinberg, Fortune, October 1953, p. 174.




101


WSOH, 1956, p. 81.




102


 , p. 52.




103


 , p. 82.




104


 , p. 53.




105


E.J. Kahn Jr., Directors Director, NY, September 8, 1956, p. 39.




106


  (18701965)  ,  ,      .          . . . .




107


NYT, July 29, 1969.




108


Time, December 8, 1958.




109


  (18321899)  ,     ,       . . .




110


  (18091865) 16-  ,            18611865.,    .     . . .




111


NY, September 15, 1956, p. 62.




112


 .




113


NYT, July 29, 1969.




114


Fortune, October 1953.




115


NY, September 15, 1956, p. 60.




116


Fortune, October 1953.




117


 .




118


NYT, December 16, 1967.




119


 .




120


NYT, February 8, 1942.




121


NY, September 15, 1956, p. 65.




122


NYT, December 16, 1967.




123


 .


