Why I Am Leaving Goldman Sachs

[Jay Trotter]

Interesting article LINK (http://www.nytimes.com/2012/03/14/opinion/why-i-am-leaving-goldman-sachs.html?_r=2)

[Robert Goren]

This article cause quite a stir at CNBC. Unfortunately Goldman Sacs is not the only place that built its reputation by doing a really great job of servicing their customer's needs that has now turned to making money by screwing over their customers while pretending to help them. They are making good money now, but eventually people will get wise to them. It is human nature to trust somebody who has help you in the past even though their reputation has recently take turn for the worse. That is almost always a mistake. The problem that many Goldman customers have, is that right now every major investment bank is treating their customers the same way as Goldman.

[ArlJim78]

this is a self serving whine from a naive person. It didn't say but shouldn't he at least give back ten years of salary to all the poor clients that he says got taken? after all he was part of the team. If he wanted to make things right that would be a good place to start rather than running to the NY Times editorial page.

[Tom]

Good point - he is quick to toss out accusations, slow to toss out remedies.
Self-serving BS.

[JBmadera]

A different take:

Greg Smith may really believe Goldman Sachs (GS) is run by "morally bankrupt" people out to rip off their clients. But that's old news, Charlie Gasparino writes; Smith needs to wake up to the less-sincere motives of the NY Times, who published his resignation letter that went viral. Gasparino sees Smith as a pawn used by the Times to score political points and advance its class warfare agenda.

When I read it the first thought that came to mind was that I could swap out GS for any I-Bank as well as for any large Hi-Tech firm. When I was at ORCL we referred to customers in much nastier terms than muppets.

[Robert Goren]

A different take:

Greg Smith may really believe Goldman Sachs (GS) is run by "morally bankrupt" people out to rip off their clients. But that's old news, Charlie Gasparino writes; Smith needs to wake up to the less-sincere motives of the NY Times, who published his resignation letter that went viral. Gasparino sees Smith as a pawn used by the Times to score political points and advance its class warfare agenda.

When I read it the first thought that came to mind was that I could swap out GS for any I-Bank as well as for any large Hi-Tech firm. When I was at ORCL we referred to customers in much nastier terms than muppets. I am shocked. A Fox employee would criticize the NYT. What the world coming to.

[Robert Goren]

So, JBmadera, What was like working for the Anti-Christ(Larry Ellison) at Oracle?:rolleyes:

[JBmadera]

So, JBmadera, What was like working for the Anti-Christ(Larry Ellison) at Oracle?:rolleyes:


Well, it was a very interesting experience. I had the opportunity to work with a fantastic team and got to do business across the global during a very exciting time in technology.

Larry was a real trip, most everything one reads about him is pretty darn true. The only thing larger than his yacht is his ego. Not sure Larry really cared about whether or not products were real or if they were just slide-ware...... :D

[WPL]

Interesting to me that it did not occur to that pie-eyed prick to resign from GS when bonuses were are their apex.

I'm sure it's real easy to sit across from a grad school graduate look him 'right in the eye' and tell him the virtues of your company when the market is going haywire and a chimpanzee can throw a dart at a stock chart and hit a winner for the benefit of our clients and 'wink-wink' the 1.2M bonus can salve your conscience if the chimp picks an occasional loser.

It's real easy to make the sale when the sale makes itself.

I'm sure it's real easy not to think of your company's ethics, or your colleagues ethics, or for that matter your own ethics as long as those big bonus dollars continue to roll in and Lucky the Chimp continues to do his job.

He does not look like the type of guy to roll up his sleeves and get down to brass tacks when times are tough.

He should go back to ping pong. Or smoking a bong or 'looking men right in the eye' or whatever it is he does best.

[Robert Goren]

It is interesting. Why do people do business with companies that they know they are going to screw them. I do it myself. Every time I go to McDonald's, I swear it will be my last, yet every year or so I go back. Somebody must have studied this phenomenion and written a book on it.

[JustRalph]

Ex-Goldman Executive Greg Smith Secures $1.5 Million Advance to Write Memoir


http://nymag.com/daily/intel/2012/03/greg-smith-book-deal-one-million-advance.html