Goldman Sachs Executive Director: Why I am Leaving Goldman Sachs

This story has been covered on this site in two other articles, one being from Yahoo about the muppet comment in the letter below, and the other from Greg Giles which points out the reference to these souls being monitored by extraterrestrials, of which will be bolded in this posting. 

Why I Am Leaving Goldman Sachs
By Greg Smith, New York Times, 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. Continue reading

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Exec: Goldman Officials called Clients ‘Muppets’

NEW YORK (AP) — An executive resigning from Goldman Sachs, the powerful investment bank, said in a blistering essay that the company had lost its “moral fiber” and said managing directors there referred to clients as “muppets.”

Greg Smith, an executive director at Goldman, said the company needs to “weed out the morally bankrupt people” and suggested the erosion of Goldman’s culture threatened its survival after 143 years.

Smith wrote that he attended sales meetings in which helping clients make money was not part of the discussion. Continue reading