The most scandalous episodes in the new book by @GSElevator aren't the many salacious stories of deviance, debauchery, and excess but rather alleged bond market practices that include horse-trading of favours between bankers and investors — and a secret handshake agreement struck in a Hong Kong hotel.
Bloomberg News reports that John Lefevre, who ran the GSElevator Twitter account anonymously before his identity was exposed by the New York Times last year, worked as a banker for several years in Asia (although not, crucially, for Goldman Sachs).
While GSElevator's tweets and articles can veer toward the satirical, parts of his new book — Straight to Hell: True Tales of Deviance, Debauchery, and Billion-Dollar Deals — are worth exploring in relation to the wider bond market and the habits of syndicate bankers charged with selling bonds.
Who are these syndicate bankers, you ask?
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