Author Topic: Goldman Sachs former exec - Op-Ed  (Read 1550 times)

Offline bigbear

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Goldman Sachs former exec - Op-Ed
« on: March 14, 2012, 11:02:40 AM »
Greg Smith's op-ed about his time and the culture at Goldman Sachs.

Obviously there's some axe-grinding going on here, but he doesn't seem to say things that would directly scream of an emotional response to a particular situation.

"Today, many of these leaders display a Goldman Sachs culture quotient of exactly zero percent. I attend derivatives sales meetings where not one single minute is spent asking questions about how we can help clients. It’s purely about how we can make the most possible money off of them. If you were an alien from Mars and sat in on one of these meetings, you would believe that a client’s success or progress was not part of the thought process at all."

Offline Cedar

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Re: Goldman Sachs former exec - Op-Ed
« Reply #1 on: March 14, 2012, 11:18:17 AM »
Glad he is speaking out about it..


Offline Nicodemus

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Re: Goldman Sachs former exec - Op-Ed
« Reply #2 on: March 15, 2012, 08:41:37 AM »
While I see the OpEd piece as something like releasing one's slaves upon death, you know when they're no longer needed, I guess it's better that it was reported than not.

On the amusing side, Bloomberg News: Goldman Roiled by Op-Ed Loses $2.2B for Shareholders

"Goldman Sachs Group Inc. (GS) saw $2.15 billion of its market value wiped out after an employee assailed Chief Executive Officer Lloyd C. Blankfein’s management and the firm’s treatment of clients, sparking debate across Wall Street."

Of course the rest of the article goes on to pretty much say. "So what."

Offline Perfesser

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Re: Goldman Sachs former exec - Op-Ed
« Reply #3 on: March 18, 2012, 10:26:58 AM »
Wait a second.
I was sent this. Same sort of story but the names have changed.

Can an analyst/translator comment?