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Yes, Mr. Smith, Goldman Sachs Is All About Making Money
- pg 15y agoThis misrepresents his complaint. Presumably willfully so, since the writer seems to understand the investment banking business. Smith wasn't complaining about the fact that Goldman is focused so much on making money, but the way they do it. And that has changed. Goldman may not have been super benevolent when Smith went to work for them 10 years ago, but it is even less so now.
- hkmurakami 15y agoIt definitely seems that the author, as you say, "willfully" misinterprets Greg Smith's qualms about GS. What makes matters worse for me personally, is that said author is hidden behind the guise of "The Editors" of Bloomberg news. I wonder if this is yet another attempt by online media to pump out articles with an edginess to them that will get them the much sought after page views, rather than taking a balanced and thorough look at the situation.
- tzaman 15y agoI didn't expect an article like this appearing on bloomberg. Greg Smith made observations on the culture and all they have to say is that they are not charity?
- jsmcgd 15y agoI'm surprised that Bloomberg would publish what amounts to a minor hatchet job. I know the financial sector is highly connected and this includes the 'impartial' financial news sector, and that they're protecting one of their own but this reads like a petty personal attack, not a civilized and well reasoned deconstruction of Smith's arguments. Consequently it's an implicit admission that they believe most of Smith's accusations are true. Why didn't they just save themselves some typing and print "Yeah! So? You smell bad."