Wonder if Mr Smith was able to get any whistleblower evidence while he was there. Wouldn’t mind seeing Goldman Sachs knocked down a couple of notches from their perch of sheer greed.
If he has been there since 2001, and continually been disappointed and disgusted, what took him so long to resign? Did he feel he needed to have a few million in the bank before he bacame overwhelmed with the toxic situation?
Again, what does this have to do with Insurance? Just what we need a little more liberal propaganda!
What this article does not say, and the Times always reports just half of the facts, Mr Greg Smith, was making $575,000 a year for the last 12 years and was not promoted, as a result he quit over his superior hiring someone else for the promotion.
So, because of his paycheck his observations are invalid? BTW – Goldman Sachs is a warehouse for government treasury and fedearal reserve employees. They have a conveyor belt of taxpayer money running from us to GS. They take zero interest discount window money and buy T-Bills with it and make millions on the spread, at no cost to them and no risk.
“Goldman Chief Executive Lloyd Blankfein and Chief Operating Officer Gary Cohn”…why arent these two jokers in JAIL for their scheming/dumping mortgage backed securities. Basically selling crap in gift wrap – they screwed everybody. These two %#$@#heads had huge part in bringing AIG down – it just goes to show you that Congress has no “brass ones” these guys should be in prison forever.
So glad to see you all drinking the Media’s coolaid!
This guy is one employee of 12,000. Goldman Sachs has not put a gun to the heads of any investors who have done business with them. The reason why these guys get more money to invest for their upscale elite clientelle is because they are phenominal with their success. Rip off clients? My A*s! They have done nothing but make money for thier clients.
In order to invest with Goldman Sachs, you have to be a “Qualified Investor” Ususlly worth well over $1,000,000 of money to invest. They are not Schwab, or Fidelity Investment Counselors who invest union members money.
These investors here are sophisticated to the point that they mostly call up and tell the Goldman brokers what they want and have the money to make or loose on any investments. Funny how average people think that these investors should always make money. For every investment they make there is one person selling their security because they feel strongly that it is a good investment and there is always someone on the other side of the very same investment thinking that there has never been a better time to buy this same security. So who is right? Usually the Goldman Sachs client!
“…among his 12,000 fellow vice presidents”
not too subtle eh?
Wonder if Mr Smith was able to get any whistleblower evidence while he was there. Wouldn’t mind seeing Goldman Sachs knocked down a couple of notches from their perch of sheer greed.
If he has been there since 2001, and continually been disappointed and disgusted, what took him so long to resign? Did he feel he needed to have a few million in the bank before he bacame overwhelmed with the toxic situation?
Who really gives a rats ### about Goldman? Oh, I guess I have to because they are too big to fail. They are the reason we bailed out AIG anyway…
USI is owned by Goldman Sachs private equity, USI the greatest middle market broker in the USA period!!
Again, what does this have to do with Insurance? Just what we need a little more liberal propaganda!
What this article does not say, and the Times always reports just half of the facts, Mr Greg Smith, was making $575,000 a year for the last 12 years and was not promoted, as a result he quit over his superior hiring someone else for the promotion.
So, because of his paycheck his observations are invalid? BTW – Goldman Sachs is a warehouse for government treasury and fedearal reserve employees. They have a conveyor belt of taxpayer money running from us to GS. They take zero interest discount window money and buy T-Bills with it and make millions on the spread, at no cost to them and no risk.
“Goldman Chief Executive Lloyd Blankfein and Chief Operating Officer Gary Cohn”…why arent these two jokers in JAIL for their scheming/dumping mortgage backed securities. Basically selling crap in gift wrap – they screwed everybody. These two %#$@#heads had huge part in bringing AIG down – it just goes to show you that Congress has no “brass ones” these guys should be in prison forever.
So glad to see you all drinking the Media’s coolaid!
This guy is one employee of 12,000. Goldman Sachs has not put a gun to the heads of any investors who have done business with them. The reason why these guys get more money to invest for their upscale elite clientelle is because they are phenominal with their success. Rip off clients? My A*s! They have done nothing but make money for thier clients.
In order to invest with Goldman Sachs, you have to be a “Qualified Investor” Ususlly worth well over $1,000,000 of money to invest. They are not Schwab, or Fidelity Investment Counselors who invest union members money.
These investors here are sophisticated to the point that they mostly call up and tell the Goldman brokers what they want and have the money to make or loose on any investments. Funny how average people think that these investors should always make money. For every investment they make there is one person selling their security because they feel strongly that it is a good investment and there is always someone on the other side of the very same investment thinking that there has never been a better time to buy this same security. So who is right? Usually the Goldman Sachs client!