Goldman Insider Exposes Struggle for Jewish Soul – March 15, 2012 

Greg Smith, an Executive Director of Goldman Sachs in London, quit publicly Thursday due to the firm’s culture of “ripping off” their own clients.
“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.”
Goldman Sachs, a part-owner of the Federal Reserve, played a key role in the 2008 credit crunch. This letter shows nothing has changed; in fact things are worse. The bank is still willing to market questionable products no matter the consequences to clients or society.
The letter also illustrates that there are two kinds of Jews: those who have a strong moral sense and those who have none. Put another way, some Jews believe in serving the world, and some believe in exploiting it.Greg Smith, 33, is a Jew who demands the bank ” Weed out the morally bankrupt people, no matter how much money they make for the firm.” He blames CEO, Lloyd C. Blankfein, and the president, Gary D. Cohn, for despoiling the firm’s culture.

We need more people like Smith who are willing to stand up for what’s right despite career consequences. Here is a slightly abridged version of Smith’s letter:

By GREG SMITH – New York Times

 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.

Continues in full …

Comments are closed, but trackbacks and pingbacks are open.