'Why I'm Leaving Goldman Sachs' - NY Times Op-Ed

'Why I'm Leaving Goldman Sachs' – NY Times Op-Ed

A devastating Op Ed was published in the New York Times recently by former investment banker Greg Smith titled ‘Why I’m Leaving Goldman Sachs’. Cenk Uygur reads amazing quotes from the op ed and talks about how Goldman Sachs and investment banks in general screw their clients out of their money.

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42 thoughts on “'Why I'm Leaving Goldman Sachs' – NY Times Op-Ed”

  1. And at the SAME TIME, the gov't enforces rules that make it IMPOSSIBLE for SMALL INVESTMENT FIRMS TO COMPETE, all done with FINRA regulations and more, all done so that GS and JPM etc, etc, have NO COMPETITION.

    Gov't protects you from your money

  2. It happened not because the company is public, but because the MONEY is worth nothing, it's all Fed printing and Congress and Fed bailing out and preventing ANY competition with FINRA rules, etc.etc. Thank your gov't for protecting you from any gains.

  3. The crux of varti's dismissal was reflective of one of the most disturbing habits/trends in america, and indeed in all of human consciousness. We as a species rationalize misdeeds by blaming the victim and shit like that needs to be curbed. The rape victim dressed wrong, the mugging victim didn't bring enough friends, the people that got robbed by an investment bank didn't know enough about investing. If people were more investment savvy Goldman wouldn't exist, and wouldn't be able to loot.

  4. @Andreazor I guess from this guy's experience they used to operate differently, respecting their clients and using the loyalty and integrity to maximize revenue. Lots of successful companies do so well because of how well they treat their employees and customers. Google, Starbucks, Amazon and Jet Blue being some examples off the top of my head.

  5. ive suspected that about goldman sachs for years, they are money hungry strip club hooker feens. i wouldnt be suprised if they were drug users as well. thank god for greg smith

  6. So tell me why after all this obviously criminal sh*t that none of these greed pig criminal bankers are in jail? Couldn't have anything to do with the Obama banker puppet "justice" department dropping the ball could it?

  7. I'm not worried about government communism or socialism….I'm worried about CORPORATE communism…..the republicans are letting these corporate communists in the back door under the cloak of corporate personhood,citizens united,de-regulation,corruption…etc.

  8. their clients are multi millionaires who would have no qualms if these bankers ripped off innocent tax payers to increase their investments – so what goes around comes around

  9. goldman sacks personell have contempt for the rest of us and really still imagine we believe anything they say. As for disgruntled employee, haha who among us hasnt been fucked in the workplace by our employers who state we are merely"disgruntled former employee" Wont work anymore GS, U and your company are vermin and the 99% understand that now.

  10. Wow , how many paid whores do the super rich at Goldman's have in the press? Beggars the imagination how slavishly right wing the american press has become.

  11. He was only a VP which in investment banking terms people usually get after working there for 5 years. Still all of the top grads will be in a nice long and orderly queue to get a job at Goldman.

  12. Thank you Chenk for your integrity and the willingness to be true to the truth seeking internet community. Thank you for putting your talent for explaining the whole story for the sake of the beauty in truthful journalism.

  13. What the Op-Ed REAAAALLY said was 'I got another shitty bonus and everyone hates the company I work for so fuck it! I'm gonna burn bridges and get a book deal for slamming Goldman.' I see his book deal is already in the works…

  14. And what does this prove? That Sachs is a very poor financial services company, that Sachs corporate culture is toxic to it's clients, and every Sachs client should pull their investments immediately.

    The really scary thing is that half of the US Treasury, Securities and Exchange Commission, and the Federal Reserve came from Sachs, appointed by BUSH and OBAMA!

    Now…what do you think those execs who graduated to these pinnicales of financial power think of us?

  15. God, I hate sexist commercials. Preroll add for Gain:
    "It's for women who like control. Which last time I checked was all women!"
    Shut up. Men need to use laundry detergent too. Go away.

  16. this guy has no idea what he's talking about. who are these "clients"? these aren't wealth management clients, or else they'd leave the moment they start losing money.
    these so called "clients" are the mutual funds and hedge funds who use GS as dealer and market maker to take large positions in assets. GS, like ANY market maker, take their bid-ask spread. there's nothing wrong with that, there's no other way

    so what are you morons complaining about? that GS makes money? lol. muppets indeed

  17. I'm acting on the stock market now and have done so for 15 years. I see big change last few years! Strange behaviours where biotech bubble companies have bizzare values and quality companies have absurdly low values. Soon there will be a change when it becomes obvious that biotech companies have nothing of value then they will dump those stocks on idiots and buy quality companies for cents! I guess it starts 2013 around summer time!
    The stock market is playground for psychopaths!

  18. why can't he just announce the news in a calm manner? his voice acting kind of bothers me. Btw, goldman sachs reported their revenue of 1Q, it beats estimates good. this book doesn't affect the reputation of GS at all.

  19. all clients are presented with contractual documents to read and sign. all the terms and conditions of each deal are there. clients who enter into these deals without understanding or reviewing generally deserve to lose money if that's the case…

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