Why I Am Leaving Goldman Sachs

Originally posted by soficrow
reply to post by Patifier
Sounds like scare tactics - stage 2 following the attack on his credibility.

Evidence that this guy and his letter are totally legit.

You may be right! Let's hope so!

This guy worked at GS for 12 years so either it took his conscience a long time to bother him or he's leaving before TSHTF.

Notice that he never mentions any names and calling GS "toxic" is just a minor poke. But he's probably leaving with a big retirement fund a bunch of years of 6 figure salaries and million dollar bonuses, so I wouldn't shed too many tears for him.

Originally posted by NeoVain
reply to post by soficrow

 

This letter provides a bit of an alternate perspective. Maybe, just maybe, we'll see a sea change in how our world conducts business.

The only change i see here is that if what you say is true, all those bankers that resign are the good guys, that just can´t take it anymore. What does this leave us with? That´s right, the bad guys at the rudder!

A change for worse, sadly.

I would not let the deserting "rats" off that easily! Why would they wait till everything wrong in their profession is brought to light before they are suddenly mortified?

America is actually The "Jewish" closet !

M a r c u s G o l d m a n

reply to post by soficrow


I saw this a couple of hours ago on the news.

If I were the type who believed in conspiracies, I might be tempted to think this is happening as part of the Obama campaign to ignite the Occupy folks who are now officially, on paper, partners with groups like the SEIU, MoveOn and the old ACORN bunch. Obama owns Occupy now. They are now officially part of the Obama team.

I'm not talking about the legitimate peaceful protestors here, who have no part in how it's been taken over. Please don't think my thoughts are about them. This is most certainly a terrible thing and very likely true. Problem is the answer is not to destroy the system, but instead to get honest people in charge. Standing in a park won't do anything to fix that. It does open people up to being used like the Occupy folks have been. Once the paid people got involved, it was over.

I think its a legitimate story and as true as it is angering, but it will be abused. Even if it's not orchestrated to divert attention it will be used as if it were. God I'll be glad when this election season is over.

If this leads to more regulations, it will cause more problems than it solves. History proves that. Anything the government regulators touch they make worse. There is no easy solution to the culture among these folks that lead to this. I imagine this will become a huge campaign tool and calls for regulation and more government take over of business. Problem is their cure will be way worse than the illness.

My take on bankers has always been that of casino dealers.

You pay to play, and if you or the house think you've got a bad dealer, as soon as one is removed another instantly fills the void. And so on and so on....

Banks, just like casinos aren't there as a public service. They only exist for one thing and thats to make money at your expense. Anyone who pretends differently, will invariably suffer. Not at the hands of some shadowy organization, but by their own choices. Be they out of greed or ignorance it matters nill.

Well it is having an effect on their shareholders, maybe they will start questioning the morality of their decision making....nah!

The shares dropped 3.4 percent in New York trading yesterday, the third-biggest decline in the 81-company Standard & Poor’s 500 Financials Index, after London-based Greg Smith made the accusations in a New York Times op-ed piece.

www.bloomberg.com...

Nice thread sofi, and I hope this information making it's way into the public can make some kind of difference.

Peace,
spec

reply to post by soficrow


One can always remain hopeful that the majority of people wake up and realize there are two kinds of people in this world..............honorable and dishonorable.

A person that will lie, cheat, steal and talk badly about someone else, will also do the same to you if given the opportunity - but still too many people think they will be the lucky "charmed" one that won't get screwed.

However, again, more and more people are waking up.

US Gov could clean the house out by simply offering very large cash rewards and witness protection for anyone providing proof of fraud and corruption in corporations and banking industry. Pay people millions to expose verifiable fraud and corruption that result in prosecutions. Imagine the money that could be saved if people had incentive to blow the whistle and shut down fraudulent buisness.

reply to post by Xeven

Pay people millions to expose verifiable fraud and corruption that result in prosecutions. Imagine the money that could be saved if people had incentive to blow the whistle and shut down fraudulent buisness.

Now there's an interesting thought. S&

...It would have to be more than their close of contract settlements though, AND provide immunity for breach of confidentiality and other business contracts. Is that even legally possible? ...Most of that stuff falls under International Law these days doesn't it? Not national?

Here's a great paraody of the resignee's letter:

Why I am leaving the Empire, by Darth Vader


Today is my last day at the Empire.

'I no longer have the pride, or the belief' After almost 12 years, first as a summer intern, then in the Death Star and now in London, I believe I have worked here long enough to understand the trajectory of its culture, its people and its massive, genocidal space machines. And I can honestly say that the environment now is as toxic and destructive as I have ever seen it.

To put the problem in the simplest terms, throttling people with your mind continues to be sidelined in the way the firm operates and thinks about making people dead.

The Empire is one of the galaxy's largest and most important oppressive regimes and it is too integral to galactic murder to continue to act this way. The firm has veered so far from the place I joined right out of Yoda College that I can no longer in good conscience point menacingly and say that I identify with what it stands..."

...it goes on in that vein.

Also:Apparently they have already lost $2.5 billion in market value since this article was published. I guess investors don't like being "muppets."

reply to post by speculativeoptimist


Thank you. And back atcha. S&

reply to post by ofhumandescent


Sometimes it really is just cut and dried, isn't it? S& :up

US Gov knows exactly what GS does. Look up Henry Paulson in Wiki and all will be very clear.

As for this guy with his letter, it sounds to me like "smoke" to make everyone feel good that something is changing. Sorry, until SEC REAL does its work nothing will change.

That is why Spitzer had to be toasted, he wanted to do the right thing.