NYT
Protester at an anti-poverty demonstration outside GS's London offices, October 2012. Photo by Oli Scarff/Getty Images
A long-term employee of Goldman Sachs today resigned in the most public of places — The New York Times. Greg Smith, an executive at the banking giant wrote that he was leaving because
the interests of the client continue to be sidelined in the way the firm operates and thinks about making money
and that
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.
The global banking crisis and the ensuing bailouts did a number of things — not least to paint all employees of the big banks with the same brush — they were all money-grabbers, not caring about who they took money from or how they invested it.