Breaking: Just Before Release of Grouchy Goldman Sachs Memoir, Unusual GS Employee Praises Firm
Breaking. October 19, 2012, 8:30 p.m.
On March 12th of this year, the New York Times op-ed page featured a screed by former Goldman Sachs executive Greg Smith who savaged the firm. Smith, a successful executive there, blasted GS for its concentration on its own financial needs rather than on client needs. After 12 years there, he’d risen far, but he resigned because “I can honestly say that the environment now is as toxic and destructive as I have ever seen it.” For some time, Smith’s op-ed sparked a renewed concern about Wall Street greed and lack of concern for its clients who, according to Smith, are often called “Muppets” by GS traders.
Well, whaddya know, on Monday Grand Central Publishing will release Smith’s memoir Why I Left Goldman Sachs. Smith pocketed an advance of $1.5 million, so he likely hopes for a bull market in sales. Otherwise, his next book might be a self-published ebook, Why I Left Grand Central Publishing . . .
Yet – surprisingly to many – Goldman Sachs has its boosters, its fans, both within and without. Below, another successful GS executive has entered the NYT Op-Ed fray, this time showering praise on all things Goldman Sachs.
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