Posts tagged ‘Goldman Sachs’

March 15, 2012

Goldman Sachs Muppet Show

If you are going to resign from one the world’s largest investment banks, I guess you got to do it in style. Greg Smith, resigned today from his position as Executive Director from Goldman Sachs and yesterday his letter was published in the New York Times.

The letter exposes the sheer nature of the culture within investment banks that seethes most of us and finally one individual has stood up to be counted after 12 years of working at the company that he once loved. Clients are said to be referred to as “muppets” internally by senior management, clients’ best interests are sidelined in the way the bank makes money and there is a distinct lack of integrity in the way business is conducted. So will anyone take notice of Greg Smith or will his resignation letter just go on a pile and he be forgotton. Furthermore, who will employ him now that he has made such a public statement about his previous employers?

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