The most recent Econ Talk (http://www.econtalk.org/ http://www.econtalk.org/) is an interview with a former Goldman quant who said that Goldman's culture change

The most recent Econ Talk (http://www.econtalk.org/ http://www.econtalk.org/) is an interview with a former Goldman quant who said that Goldman's culture changed "markedly" for the worse when it went public. Before that, Goldman's partners had a huge incentive to make sure "psychopaths" weren't handling the money, and access to capital was quite limited. Capitalization was a constant problem, and they fought for it. After going public, that problem went away, and so did the fear of the psychopaths.