Showing posts with label Bus Econ Goldman Sachs. Show all posts
Showing posts with label Bus Econ Goldman Sachs. Show all posts

Thursday, March 22, 2012

When Vampire Squids Become Cannibals – by Kevin Dayhoff – The Tentacle March 21, 2012

March 21, 2012



In case you missed it, last Wednesday Greg Smith, a Goldman Sachs executive, resigned. Actually it was really no big deal, except while he was on his way out the door, he burned his bridges and then strafed the wounded.

Mr. Smith publicly nuked Goldman Sachs in a scathing op-ed article in The New York Times that left many holding their hands up high and shouting “Alleluia.”

Last Wednesday began the same as many of the most recent monotonous mid-week editions of the end of winter blues as our nation’s wounded business and financial community continues to snort and bellow while it tries to extricate itself from an economic tar pit and in the process, try not to pee all over itself anymore than it already has.

The European sovereign debt crisis continues to languish in the markets like a bad hangover and economic public policy, especially unchecked profligate U.S. sovereign spending and debt, continue as troublesome issues. And where there is a financial cesspool, one can count on Goldman Sachs merrily swimming with the rest of the bottom-feeders and leaches.

So, as one may imagine, a headline like “Why I Am Leaving Goldman Sachs,” caught my eye.

Goldman Sachs, the venerable ginormous, intergalactic investment banking, financial services and securities firm has arguably found itself in the caustic crosshairs of public scrutiny more in the past several years than at any other time in its storied history that goes back to 1869… http://www.thetentacle.com/ShowArticle.cfm?mydocid=4986

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"Leadership used to be about ideas, setting an example and doing the right thing. Today, if you make enough money for the firm (and are not currently an ax murderer) you will be promoted into a position of influence." … http://www.huffingtonpost.com/wendell-potter/goldman-sachs-greg-smith_b_1362755.html?ref=politics&ir=Politics






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I’m a newspaper reporter. I’m pushy, inconsiderate and I do not respect boundaries.
Kevin Dayhoff is an artist - and a columnist for:

Twitter: https://twitter.com/kevindayhoffTwitpic: http://twitpic.com/photos/kevindayhoff
Kevin Dayhoff's The New Bedford Herald: http://kbetrue.livejournal.com/ = www.newbedfordherald.net

Tumblr: Kevin Dayhoff Banana Stems www.kevindayhoff.tumblr.com/
Smurfs: http://babylonfluckjudd.blogspot.com/
Google profile: https://profiles.google.com/kevindayhoff/

E-mail: kevindayhoff(at)gmail.com
My http://www.explorecarroll.com/ columns appear in the copy of the Baltimore Sunday Sun that is distributed in Carroll County: https://subscribe.baltsun.com/Circulation/
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Saturday, March 17, 2012

New York Times Greg Smith: Why I Am Leaving Goldman Sachs

New York Times Greg Smith: Why I Am Leaving Goldman Sachs


OP-ED CONTRIBUTOR

Why I Am Leaving Goldman Sachs

By GREG SMITH

March 14, 2012

TODAY is my last day at Goldman Sachs. After almost 12 years at the firm — first as a summer intern while at Stanford, then in New York for 10 years, and now in London — I believe I have worked here long enough to understand the trajectory of its culture, its people and its identity. And I can honestly say that the environment now is as toxic and destructive as I have ever seen it.



To put the problem in the simplest terms, the interests of the client continue to be sidelined in the way the firm operates and thinks about making money. Goldman Sachs is one of the world’s largest and most important investment banks and it is too integral to global finance to continue to act this way. The firm has veered so far from the place I joined right out of college that I can no longer in good conscience say that I identify with what it stands for… http://www.nytimes.com/2012/03/14/opinion/why-i-am-leaving-goldman-sachs.html?_r=1&pagewanted=all&src=ISMR_AP_LO_MST_FB

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"Leadership used to be about ideas, setting an example and doing the right thing. Today, if you make enough money for the firm (and are not currently an ax murderer) you will be promoted into a position of influence." …http://www.huffingtonpost.com/wendell-potter/goldman-sachs-greg-smith_b_1362755.html?ref=politics&ir=Politics







+++++++++++++++
I’m a newspaper reporter. I’m pushy, inconsiderate and I do not respect boundaries.
Kevin Dayhoff is an artist - and a columnist for:

Twitter: https://twitter.com/kevindayhoffTwitpic: http://twitpic.com/photos/kevindayhoff
Kevin Dayhoff's The New Bedford Herald: http://kbetrue.livejournal.com/ = www.newbedfordherald.net

Tumblr: Kevin Dayhoff Banana Stems www.kevindayhoff.tumblr.com/
Smurfs: http://babylonfluckjudd.blogspot.com/
Google profile: https://profiles.google.com/kevindayhoff/

E-mail: kevindayhoff(at)gmail.com
My http://www.explorecarroll.com/ columns appear in the copy of the Baltimore Sunday Sun that is distributed in Carroll County: https://subscribe.baltsun.com/Circulation/
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