“Am Leaving Goldman Sachs” is trending on Twitter this morning thanks to Greg Smith’s op-ed piece/resignation letter, “Why I am leaving Goldman Sachs” in the NY Times.
If you ask us, it’s a big yawner (is anyone really surprised that a Wall Street firm sells its clients products they don’t need?), but there’s no question Mr. Smith’s op-ed struck a chord on Twitter:
We disagree with the views expressed, which we don’t think reflect the way we run our business,” a Goldman spokeswoman said. “In our view, we will only be successful if our clients are successful. This fundamental truth lies at the heart of how we conduct ourselves.”
Mr. Smith described himself as an executive director and head of Goldman’s U.S. equity derivatives business in Europe, the Middle East and Africa.
A person familiar with the matter said Mr. Smith’s role is actually vice president, a relatively junior position held by thousands of Goldman employees around the world. And Mr. Smith is the only employee in the derivatives business that he heads, this person said.
Sounds like they have more vice presidents than Obama has czars. Or Michelle has
ladies-in-waiting personal assistants.