"Too Big To Fail" Takes Aim Using Scribd
The 2008 economic crash permanently altered America's approach to the stock market, and The New York Times chief mergers and acquisitions reporter Andrew Sorkin is bringing that same gamechanging spirit to the release of his first book, Too Big to Fail -- a play-by-play analysis of the back room deals and lies that brought down Wall Street. In an unusual move, Sorkin is using Scribd and his own blog to give readers access to the numerous private source materials he used to write the book, including:
- Secret waiver granting former Goldman Sachs executive and then Secretary of the U.S. Treasury Hank Paulson the right to negotiate a U.S. Treasury deal for Goldman despite his obvious personal gain
- Paulson's private call logs to Wall Street CEOs, President Bush, Fed Chairman Ben Bernake, and even the finance minister of China at height of crisis
- Bullish "believe it baby!" pep talk email from Goldman Sachs trader to clients and colleagues only 24 hours before desperate Goldman merger discussions began with Citigroup
- Last minute acquisition offer letter from Wells Fargo to Wachovia, pushed through by F.D.I.C. chairwoman despite existing Wachovia-Citigroup acquisition plans
Sorkin will publish the remaining dozen source documents over the next two weeks via his branded Scribd reader, a technology already popular with media companies like The New York Times and Huffington Post. To view Sorkin's secret source documents, visit www.andrewrosssorkin.com or www.scribd.com/AndrewRossSorkin.