Why Was Executive Greg Smith Shocked by Greed at Goldman Sachs?

Yet again, Goldman Sachs has seen its reputation plummet in the public eye. A scathing resignation letter-cum-opinion piece by a disgruntled midlevel executive published in Wednesday’s New York Times quickly went viral and was the talk of the financial town. And it was quite the letter, filled with accusations of a “toxic and destructive” culture, of executives expressing unmitigated scorn for clients, including referring to hapless ones as “muppets,” and general disdain for anything except profit and more profit, whatever the ethical or moral costs.

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