Goldman Sachs exec resigns, slams bank's 'toxic' environment

[Common Sense Al]

Goldman Sachs exec resigns, slams bank's 'toxic' environment

He charges that top officials at the company callously talk about "ripping their clients off" and says he has seen five different managing directors over the past 12 months refer to their own clients as "muppets," sometimes over internal e-mail.

Not surprising but nice to see it coming from an insider.

More - Why I Am Leaving Goldman Sachs

It makes me ill how callously people talk about ripping their clients off.

It used to that financial firms were about service to the customer and the rest of the economy... now they are about service and profit to themselves and @^#@&#% the customer.

[Brian]

Like this is any big surprise. I suppose the only "surprise" is that an exec spilled the beans rather than the thousands of grunt workers that get ignored all the time with the same observations and complaints.

[josh]

Lets not put too much stock in the words of a single former employee. He happened to get access to the NYT to air his views...most are not given that. Do you think they would have given him column space if he had only good things to say?

[Pipeline]

Lets not put too much stock in the words of a single former employee. He happened to get access to the NYT to air his views...most are not given that. Do you think they would have given him column space if he had only good things to say?

Certainly would have a little more cred if reported in the WSJ, then the NYT.

[CopperCanyonResident]

Be thankful that this guy tells the truth. The big investment banks rip off regular folks and then laught at us after they have done so. Rather like a rapist laughing at his victim after he has taken her innocense.

This is not a one off event. This is a God-send, that one of the evil spawn are now telling the truth.

If you do not believe me, then Google MF Global, and tell me where that "evaporated" money went?

Yeah, the formerly venerable WSJ reported that the clients' money that was supposed to be segregated just "evaporated." All you accountants reading this, tell me how money just "evaporates?"

The WSJ is NOT the venerable institution it was in former days. WSJ. NYT. WaPo. All pretty much crap now. Don't trust any of them folks. They are just aiding and abetting criminals.

Why is John Corzine walking free today? Oh, that's right, he was a bundler for Comrade Obama.

[Common Sense Al]

Lets not put too much stock in the words of a single former employee. He happened to get access to the NYT to air his views...most are not given that. Do you think they would have given him column space if he had only good things to say?

So who do you think is more correct? Goldman Sachs, who says they're an 'upstanding' moral company that puts their customers' profits & interests first, over their own profits & interests, or do you think this former employee is closer to the truth?

[skiing1974]

investment funds and honesty