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Wednesday, August 25, 2010

Bestseller Conspiracy: Li Delin, 'Eliminate All Competitors - How Goldman Sachs Wins Over the World'

Bestseller Conspiracy Li Delin, 'Eliminate All Competitors - How Goldman Sachs Wins Over the World' Goldman Sachs & Co., reviled in the U.S. for its role in the financial crisis, is now getting hammered in the world's No. 2 economy with a sensationalist new book accusing the investment bank of trying to destroy China.

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.

With the "cruel character of a Manchurian tiger, the group creeps around the world, like a veteran hunter stalking its prey, when it smells blood it pounces!" the chapter says.

Goldman Sachs' office in Beijing refused to comment on the book and on others of its ilk.


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