Summary of When Money Was in Fashion

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When Money Was in Fashion book summary
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Rating

6 Overall

5 Importance

7 Innovation

6 Style


Recommendation

The Goldman Sachs colossus straddles the financial world today, but it started as a family business. June Breton Fisher, great-granddaughter of founder Marcus Goldman, draws on information from relatives and her own memories to portray the little-known story of the firm’s founding. Two teenage boys met in a synagogue in Bavaria and throughout marriages, births, deaths, conflict and scandal, they gave life to Goldman Sachs. Whatever you may think of the bank, you’ll find its forebears, particularly Henry Goldman, to be intriguing, innovative and very human. getAbstract recommends this loving memoir for its slice-of-life narrative, though astute readers will need to sort through its scattered inconsistencies and errors. And, it lacks a badly needed family tree. You might quibble over the title – after all, when hasn’t money been in fashion? – but Henry’s quote actually was, “Money will always be in fashion.” How right he was.

In this summary, you will learn

  • How the meeting of two teenage boys in Bavaria led to the founding of a globally influential bank,
  • Why the Goldmans and the Sachses fell out, and
  • How Henry Goldman innovated on Wall Street and in corporate America.
 

About the Author

June Breton Fisher, Henry Goldman’s granddaughter, lives in Santa Barbara, California.

 

Summary

In the Beginning
In the 1830s, Mark Goldmann, 16, met Joseph Sachs, 19, at a rabbi’s class in a small-town synagogue in Bavaria. Though just the sons of simple tradesmen, they shared an ambition to achieve greater things. Joseph wanted to teach and Mark wanted to make money, but increasing...

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