Download King of Capital: The Remarkable Rise, Fall, and Rise Again of Steve Schwarzman and Blackstone AudioBook Free
The financial establishment---banks and investment bankers, such as Citigroup, Bear Stearns, Lehman, UBS, Goldman Sachs, Merrill Lynch, and Morgan Stanley---were the cowboys, recklessly presuming dangers, leveraging up to astronomical levels, and driving a car the overall economy to the brink of catastrophe. In King of Capital, David Carey and John E. Morris show how Blackstone (and other private collateral firms) transformed themselves from gamblers, hostile-takeover designers, and "barbarians at the gate" into disciplined, risk-conscious investors. This is actually the very best untold success story on Wall Neighborhood. Not only have Blackstone and a tiny coterie of rivals wrested control of firms around the globe, however they have surfaced as a significant force on Wall Street, challenging the likes of Goldman Sachs and Morgan Stanley for dominance. And since it is resting on billions of dollars that can be invested at the same time when the market is starved for capital, Blackstone is currently ready to use once again. Insightful and hard-hitting, King of Capital is filled up with never-before-revealed information regarding the workings of an heretofore secretive company that was the non-public fiefdom of Steve Schwarzman and Peter Peterson. An excellent human interest story, as well, it instructs how Blackstone went from two fellas and a secretary to being one of Wall Street's most powerful institutions---far outgrowing its much older competitor KKR---and how Schwarzman, with a pay packet twelve months of $398 million and $684 million from the Blackstone IPO, emerged to epitomize the amazing new financial fortunes amassed in the 2000s.
