The interesting revelations in new GSElevator book

Elevator panel

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?

To access the complete Bloomberg News article hit the link below:

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