Episode 405 • • 2:02:12 - 2:06:20
405: Piles of Pelicans
Goldman Sachs Facebook Pitch, Discretionary Mandates
In the recorded meeting, John Walker confronts Goldman Sachs about receiving a pitch for the Facebook IPO that included threats of criminal penalties for disclosure. Despite Walker's explicit instructions to avoid equities and high-risk investments, the bank's "investment professionals" claimed they were exercising discretion in presenting the offer.