A senior Goldman Saches banker speaks ....

[Guest]

I can't decide if his timing is far too late or quite propitious but ...

Goldman Sachs director quits 'morally bankrupt' Wall Street bank. Greg Smith resigns as executive director of Goldman's European equity derivatives business after devastating attack

http://www.guardian.co.uk/business/2012/mar/14/goldman-sachs-director-quits-morally-bankrupt

[Lateralthinking1]

I can't decide if his timing is far too late or quite propitious but ...
Goldman Sachs director quits 'morally bankrupt' Wall Street bank. Greg Smith resigns as executive director of Goldman's European equity derivatives business after devastating attackhttp://www.guardian.co.uk/business/2...rally-bankrupt

We need more Greg Smiths. As for the response from Goldman Sachs:

Quote ""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," the bank said."

Let's read that again. "This fundamental truth lies".

Truth is always in words.

Footnote- Oh and their view - "In our view" - is supposedly a "fundamental truth". Their view is hence FACT according to them. Their view is where fact lies. They blind themselves if they really think that such old baloney, quote, "rips eyeballs out".

[Vile Consort]

Not that senior, apparently:

"Even as an executive director, Mr Smith still had an estimated 2,000 managing directors and partners above him in the pecking order." (BBC News web site)

Another case of job title inflation?

[aka Calum Da Jazbo]

well that may be so or not but what he said cost the shares

[aka Calum Da Jazbo]

why Greg Smith was right according to Larry Elliott at the graun

seems to pose the existential challenge of the century ............

[EnemyoftheStoat]

Not that senior, apparently:

"Even as an executive director, Mr Smith still had an estimated 2,000 managing directors and partners above him in the pecking order." (BBC News web site)

Another case of job title inflation?

There's plenty of this in the city, particularly among the US banks. One of these, where I delivered some software training at one point, seems to use "vice-president" as its entry-level job title. I used to be slightly cowed by it but as time goes on I realise that some of the financial sector almost expect me to tell them how to do their jobs as part of the training. That's a pretty frightening prospect