As if it wasn't enough to be reviled in the United States for the 2008 financial crisis, Goldman Sachs Group Inc. is being attacked by Li Delin, the author of Goldman Sachs Conspiracy. The book accuses the New York investment bank of trying to destroy China. "Like a fox chewing a bone, Goldman Sachs knows the rules of the game and when to go for your neck," it says.
Goldman Sachs Conspiracy, which has sold more than 100,000 copies since it was released in June 1, is a sequel to the book Eliminate All Competitors - How Goldman Sachs Wins Over the World. Written by the same author, this book was published last year. A financial journalist, Li, seems to have grabbed the fancy of Chinese readers with his books.
The much maligned Goldman Sachs has declined to comment on the Li book and other similar books.
Goldman Sachs was widely criticized in the United States and world over for its high executive payouts after it accepted a $10 billion government bailout during the financial crisis. In July, the bank agreed to a record $550 million settlement with the Securities and Exchange Commission on civil fraud charges. The agency had sued the Wall Street firm, accusing it of misleading buyers of mortgage-related securities.
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