Why I Left Goldman Sachs” promises to be a tell-all of Mr. Smith’s 12-year career at the bank. His opinion article in The Times described Goldman as a once-vaunted institution that had lost its way. He wrote that when he first joined the bank as an intern in the summer of 2000, it obsessively put its clients’ interests first.But over time, Mr. Smith said, Goldman devolved into a “toxic and destructive” culture that put profit before principle. His former colleagues mocked their clients, he said, derisively referring to them as “muppets.”
“I truly believe that this decline in the firm’s moral fiber represents the single most serious threat to its long-run survival,” Mr. Smith wrote. “It makes me ill how callously people talk about ripping their clients off.
This is a quote from Peter Latman's article in NY Times
Apparently the book is set to be published Oct. 22. Price: $18.47 Hardcover, $14.99 Kindle
Amazon - Why I Left Goldman Sachs
Certainly his $1.5 MM advance was of help for such a fast publishing track
"hello, i'm a failed derivatives guy from GS, i didn't make MD and had no subordinates. i enjoy ping pong and brisket. this is my life" - greg smith
naarrr, i'm ok thanks.
Yeah, hardly a Must Read
i will download it on some torrent site in a couple of weeks
Some people just like the attention. I doubt he left because of the culture only. I'm sure it takes much more to break a GS employee whose been there for 12 years... so thumbs up to what Oreos said.
He should appreciate that they employed him for 12 years. People are made redundant all the time and you don't see them publishing books whining about their ex-company. They just move on.
Goldman was really ethical in 2000? HAHAHA
This Greg guy is hilarious.
I think what he meant to say was the wool was still firmly fixed over his eyes in 2000.
Strong number of college students in this thread.
Goldman have just about the worst reputation on the street. I wont even look at a deal if it is being lead by them. They turned screwing their clients (whether corporate finance or trading) into an art form pretty much as soon as they IPO'd.
Having said that, wont be reading the book, life's too short.
Still - doesn't change the fact the guy has been eating his soup for 12 years, then decides to piss in it when he leaves. Fuck heads like that have no spine, and spitting on an industry that has nurtured you for so many years is despicable. Now whether GS fucks its clients or not, that's another question; does not justify this man publishing his book just in the hope of making some money. Whatever you say about bankers, I've been working here long enough to realise that most people are normal, and turning against the people you have worked with is not acceptable. End of.
Wonder if this will become Liars Poker of the 2012. Can't wait to find someone who read it already to summarize it for me in 5 mins.
This book will be a 200 page GS Elevator tweet.
the book deal alone was worth $1.5 mil...go figure
Must read?
Fuck this guy.
This whole thing was on some website before it came out as a book.
If I had a SB, I would throw you one right now.
Luv the picture
The only people who don't benefit from the services of The Goldman Sachs are literally EVERYONE but The Goldman Sachs. God's work baby!! Fukin circus....
i think the guy sucks too but theres no way im not going to not read this thing
Hysterical. :50 best part
http://www.youtube.com/embed/1_NtV6Rptd4?feature=player_detailpage
Goldman Sachs Capital Partners plans to seek between $7 billion and $10 billion for its next fund, according to comments made on 09/20 by Richard Friedman at the Private Equity Analyst Conference. (GSCP raised raised a behemoth $20.7 billion for its current fund back in 2007).
He didn't get promoted got mad and threw a fit.
Thanks for that. Can we expect your summation of Flash Boys in 2 or 3 years as well?
sure why not........
Why I left GS (Originally Posted: 03/30/2013)
What do you think about the book "Why i left Goldman Sach" by Greg Smith ? You don't actually get a lot to know about what IB !
Sorry: Sachs*
it sucked. Greg Smith sucks. So preachy and the guy think's his shit don't stink. I couldn't even finish it, zzzzzzzzzzzz... airplane reading
Dude wasn't even that good at ping pong
Ohhh ok, for me as apprentice it was quite interesting to read it because it felt as a adviser.
Sucky book. Waste of time.
Where did he end up now?
He's done some yard work at my house.
I was expecting this to be a post by somebody mentioning that they left GS for completely valid reasons while people who have never stepped foot in an investment bank would put him down for it
then I saw that it was about this dude... I've never had strong feelings towards or against GS, but this guy has gotten on my nerves ever since his squirelly looking face popped up on my computer screen. He seems like a lil whiny bitch. to hear him being described as "preachy" is exactly what I would have expected
It s funny to hear opinions about him from people who have actually worked with him in real life. In an interview i heard him saying that he was very good at his job because there were people started with him at gs and got fired much earlier !
Quo perspiciatis qui eaque ipsum. Molestias blanditiis quia aliquid nulla.
Nam fugit ea qui nihil eaque quis. Vel consequuntur recusandae quia cum repudiandae. Velit voluptas omnis quo quis assumenda omnis impedit.
Voluptatem enim ducimus vel natus ut et. Quaerat architecto id distinctio sed quibusdam. Rerum provident ut culpa illo qui est voluptas nisi.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Aliquid et adipisci ad minus doloremque porro. Dolores magnam recusandae facere sit rerum recusandae ducimus est. Aut autem molestiae officia non dolorem voluptatem consequatur.
Tenetur natus qui nostrum nihil corrupti sint dicta. Harum et culpa veritatis molestias. Aut dolores ducimus dolorum est. Repellendus minus iste non iure totam dolorum commodi nisi. Explicabo reprehenderit repellendus itaque quia et dolor error.
Earum amet doloribus dicta perspiciatis fugit qui. Nesciunt dolorem officiis explicabo amet a. Eligendi quibusdam fugiat provident maxime quis. Consectetur enim eligendi ut rerum nihil reprehenderit. Accusantium inventore necessitatibus quidem qui officiis alias porro.