August 26th in Banking News, City News, Goldman Sachs by Editor .

Goldman Slammed by Chinese Bestseller

If you thought Vampire Squiddery was bad…

Charles Tyrwhitt UK
 

Goldman, never short of a bit of criticism, is facing some serios populist flack in a new book.

NYT: The ”Goldman Sachs Conspiracy,” which has sold over 100,000 copies since it was released in June, reaching popular website Sina.com’s top-10 list, follows another by author Li Delin, ”Eliminate All Competitors — How Goldman Sachs Wins Over the World,” published last year.

Li, a financial journalist, appears to have hit pay dirt among Chinese readers with an appetite for the would-be exposes that get prominent display in downtown bookstores, such as ”Who Killed Toyota: the Truth of America’s Attack” and ”Currency War.”

The nearly 300-page, highly dramatized account covers much of the same ground as a widely cited piece by Matt Taibbi last year in the Rolling Stone magazine that portrayed the Wall Street institution as a ”a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.”

Li’s book takes ample license in its attacks on Goldman Sachs. The company’s ultimate goal, he says in the first chapter, is to ”kill China.”

”Like a fox chewing a bone, Goldman Sachs knows the rules of the game and when to go for your neck,” it says.

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We’re sure it’s nothing Lucas van Praag, the firm’s public-relations supremo, can’t handle. But just as things were looking a little quieter on that front, something comes along to disturb the summer peace. Ah well.

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