...Goldman Sachs.
http://www.nytimes.com/2012/03/14/opinion/why-i-a…
Came across this interesting article, that may/may not be of interest to most of you on here.
I'm not sure whether its just a cause of the growing resentment of bankers or he genuinely feels this way, he paints a grim picture.
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It's all @GSelevator's fault.
Greg Smith went HAM
Powerful read... and personally it really speaks to me because I am soon to leave the toxic team that currently work on. The vast majority of them severley lack integrity and are filled with a disgusting sense of entitlement. They frequently use under-handed and backstabbing tactics... boy i tell ya' govt employees SMFH
What job is the guy leaving for?
Hence why I lasted only 6 months in IB. The long hours, rampant chauvinist aphla environment, chav-like behaviour etc...all nesteled within the confines of egotistical psychopaths with deep inferoirity complexes.
But at the same time I have little sympathy for banking clients who are so greedy that they buy all of the BS that's excreted from the likes of GS. Companies paying exorbitant fees to some IBer to structure a masssive & complex deal based on caveman forecasting models. Even the modelling tutorials on this site are a joke.
edit: call me the cynic but I also suspect that this is a cheap attempt by Mr Smith get that halo on his head & achieve some level of moral celebrityhood in finance. Just sayin.
"Mr. Smith described himself as an executive director and head of Goldman’s U.S. equity derivatives business in Europe, the Middle East and Africa.
A person familiar with the matter said Mr. Smith’s role is actually vice president, a relatively junior position held by thousands of Goldman employees around the world. And Mr. Smith is the only employee in the derivatives business that he heads, this person said." http://blogs.wsj.com/deals/2012/03/14/goldman-rejects-claims-made-by-di…
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