King of capital - David Carey

The story of Steve Schwarzman, Blackstone, and a financial revolution, King of Capital is the greatest untold success story on Wall Street.

In King of Capital, David Carey and John Morris show how Blackstone (and other
private equity firms) transformed themselves from gamblers,
hostile-takeover artists, and 'barbarians at the gate' into disciplined,
risk-conscious investors while the financial establishment-banks and investment bankers such as
Citigroup, Bear Stearns, Lehman, UBS, Goldman Sachs, Merrill Lynch,
Morgan Stanley-were recklessly assuming risks, leveraging up to
astronomical levels and driving the economy to the brink of disaster. Now, not
only have Blackstone and a small coterie of competitors
wrested
control of corporations around the globe, but they have emerged
as a
major force on Wall Street, challenging the likes of Goldman Sachs
and
Morgan Stanley for dominance.

Insightful and hard-hitting, filled with never-before-revealed details about the workings of a heretofore secretive company that was the personal fiefdom of Schwarzman and Peter Peterson, King of Capital shows how Blackstone and private equity will drive the economy and provide a model for how financing will work in the years to come.