The Partnership - Marginal REVOLUTION

For the proud Sachs family, the failure of Goldman Sachs Trading Corporation became a very public humiliation. In 1932, Eddie Cantor, the popular comedian and one of forty-two thousand investors in Goldman Sachs trading Corporation, sued Goldman Sachs for one hundred million dollars while regularly including in his vaudeville routine bitter jokes about the firm. One: "They told me to buy the stock for my old age…and it worked perfectly…Within six months, I felt like a very old man!"

That is from the new Charles D. Ellis book The Partnership: The Making of Goldman Sachs. So far this book is a very good history and it has more economic and historic substance than The Snowball.