Jonathan A. Knee had a ringside seat during the go-go, boom-and-bust decade and into the 21st century, at the two most prestigious investment banks on Wall Street--Goldman Sachs and Morgan Stanley. In this candid and irreverent insider's account of an industry in free fall, Knee captures an exhilarating era of fabulous deal-making in a free-wheeling Internet economy--and the catastrophe that followed when the bubble burst. Populated with power players, back stabbers, celebrity bankers, and godzillionaires, here is a vivid account of the dramatic upheaval that took place in investment banking. Indeed, Knee entered an industry that was typified by the motto "first-class business in a first-class way" and saw it transformed in a decade to a free-for-all typified by the acronym IBG, YBG ("I'll be gone, you'll be gone"). Increasingly mercenary bankers signed off on weak deals, knowing they would leave them in the rear-view mirror. Once, investment bankers prospered largely on their success in serving the client, preserving the firm, and protecting the public interest. Now, in the "financial supermarket" era, bankers felt not only that each day might be their last, but that their worth was tied exclusively to how much revenue they generated for the firm on that day--regardless of the source. Today, most young executives feel no loyalty to their firms, and among their clients, Knee finds an unprecedented but understandable level of cynicism and distrust of investment banks. Brimming with insight into what investment bankers actually do, and told with biting humor and unflinching honesty, The Accidental Investment Banker offers a fascinating glimpse behind the scenes of the most powerful companies on Wall Street. Knee, an investment banker at Goldman Sachs for four years beginning in 1994 and at Morgan Stanley from 1998 to 2003, describes the operations of these firms and explains the role of investment bankers and how "deals" are done. He weaves a fascinating tale of his employers and a multibillion-dollar industry, which was transformed culturally and structurally by extraordinary growth and then devastating retrenchment at the beginning of the twenty-first century. Knee mourns what he contends is the loss of historic integrity in the transition from boom to bust and describes many industry changes, including competition from hedge funds and LBOs (leveraged buyout firms). This book will attract those in the -investment-banking community as well as students of Wall Street. However, the author's lavish praise of certain individuals at Goldman Sachs and Morgan Stanley set against his stinging criticism of others reflect his judgment and perhaps that of his anonymous sources. His view of reality may not be shared by all. Mary Whaley Copyright © American Library Association. All rights reserved "Return with us now to those thrilling days of yesteryear, when giants like Mary Meeker moved millions with a single appearance on CNBC. Knee, a partner at boutique investment bank Evercore Partners whos also logged time at Goldman Sachs and Morgan Stanley, here provides a candid and irreverent insiders account of an industry in free fall during the boom-and-bust decade and into the 21st century. Knee takes aim at a range of Street figures, from Joseph Perella to new Treasury Secretary Henry Paulson. But theres also a bit of self-stroking, as the author celebrates the virtues of boutique firmslike his own."-- BusinessWeek "The best account I've read of how the Internet boom and bust was experienced inside the investment banking department of a big Wall Street firm."--Michael Lewis, Bloomberg.com "The fashion world has 'The Devil Wears Prada'. Hollywood has 'You'll Never Eat Lunch in This Town Again'. Now Wall Street is getting... The Accidental Investment Banker .... A rare, ringside seat inside the madcap and often egomaniacal world of Wall Street's Masters of the Universe.... For would-be bankers, the book is an excellent primer on what it's really like; for current bankers it will be a guilty pleasure."--Andrew Ross Sorkin, New York Times "Entertainingly indiscreet.... Knee's talent for wicked pen portraits is put to good use because he worked in the vicinity of some the most colorful and intriguing investment bankers of the 1990s."--John Gapper, Financial Times "Articulate and funny.... One of the street's top media bankers, Knee has written what is at once an homage to old school investment banking and an insider's reflection on how the boom era reshaped his industry.... A very good picture of work life on Wall Street through the turn of the century."-- MarketWatch.com "For anyone who remembers the crazy boom times, and the even crazier bust, Jonathan A. Knee's 'The Accidental Investment Banker' is a must.... Reveals a world that rivals '24' in intrigue and drama."-- Fortune "Jonathan Knee's The Accidental Investment Banker satisfies a timely need. In an informative and insightful way, Knee, himself a Go