Goldman Sachs exec quits via scathing NYT op-ed

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#1 Wed, Mar 14, 2012 - 8:49am
Paladex
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Goldman Sachs exec quits via scathing NYT op-ed

Big story of the day (aside from devastation in Tokyo) is that a 12-year veteran of Goldman Sachs quit his job by publishing this absolutely scathing piece in the New York Times: https://www.nytimes.com/2012/03/14/opinion/why-i-am-leaving-goldman-sach...

To make a long story short, he calls the GS culture "Toxic and destructive," and essentially says that the firm is so short-sighted in trying to make money off clients that its clients are going to go elsewhere.

I think that by writing this editorial ("Goldman Sachs" is trending in Twitter for the first time ever), he's just made his prophecy a self-fulfilling one!

In other news, APMEX is running a flash sale on silver rounds, .99 over spot. With silver dipping below $33 right now, it might be a good time to stack some phyz.

https://shop.apmex.com/acton/ct/1436/s-0264-1203/Bct/q-005a/l-0058:781f/...

Edited by: Paladex on Nov 8, 2014 - 5:02am
Wed, Mar 14, 2012 - 8:52am
Paladex
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Best excerpt from the piece

I love this ...

"What are three quick ways to become a leader? a) Execute on the firm’s “axes,” which is Goldman-speak for persuading your clients to invest in the stocks or other products that we are trying to get rid of because they are not seen as having a lot of potential profit. b) “Hunt Elephants.” In English: get your clients — some of whom are sophisticated, and some of whom aren’t — to trade whatever will bring the biggest profit to Goldman. Call me old-fashioned, but I don’t like selling my clients a product that is wrong for them. c) Find yourself sitting in a seat where your job is to trade any illiquid, opaque product with a three-letter acronym."

“Politicians are like diapers; they need to be changed often and for the same reason.” ― Mark Twain
Wed, Mar 14, 2012 - 9:38am
Diffusion
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I saw this posted this

I saw this posted this morning as well, it really does show how far GS has fallen and how immoral their conduct has become.

Wed, Mar 14, 2012 - 9:48am (Reply to #3)
dirk
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Goldman Sachs = Stock market

Goldman Sachs = Stock market = Immoral 

Yesterday was a crystal clear example of that.

And yes, you could simply go long GS, but would you really want to do that?

Where does it end? When we value a grain of gold like a grain of sand...
Wed, Mar 14, 2012 - 6:46pm (Reply to #4)
Paladex
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Things that make you go hmmm.

I wonder if Greg Smith, the author of the column, shorted GS in anticipation of shares getting hammered as a result of his PR sniper attack? Nothing like profiting from damage you cause! (Heck, that's Haliburton's business philosophy.)

“Politicians are like diapers; they need to be changed often and for the same reason.” ― Mark Twain
Tue, Mar 27, 2012 - 9:49pm
Exbroker
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Goldman

It's going to take more than that to take Goldman down. I worked for Cowen. You have no idea what kind of bad guys these piece of shit jews are. Lots of people will go to jail and be sacrificed before one of these boogymen ever goes to jail. They eat their young. That's all you need to know.

 Purchase the fiz....and hope they don't confiscate it from you.

Tue, Mar 27, 2012 - 9:51pm (Reply to #5)
Exbroker
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Wonder?

Nothing to wonder about there. No doubt about it.

Thu, Mar 29, 2012 - 9:32am (Reply to #6)
Paladex
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Easy, Exbroker

Exbroker wrote:

You have no idea what kind of bad guys these piece of shit jews are.

Hey, Exbroker, "throw the Jew down the well" went out of style a few years ago. It's fair to slam bankers, bureaucrats and lobbyists, but let's leave heritage out of it.

Besides, don't William George, Lakshmi Mittal, John Bryan, James Johnson, John Rogers, and the many other non-Jewish executives at Goldman Sachs deserve your love and affection as well?

https://www.goldmansachs.com/who-we-are/leadership/board-of-directors/in...

“Politicians are like diapers; they need to be changed often and for the same reason.” ― Mark Twain

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