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Posts Tagged ‘Goldman Sachs culture’

Goldman’s Greg Smith Skewers Firm, Airs Dirty Laundry

Posted by Larry Doyle on March 14th, 2012 8:25 AM |

Thanks to a regular reader for sharing a New York Times editorial which will captivate Wall Street today.

Our friends at FINRA who may be faced with real backlash from the news spreading of their losing 8 hours of testimony in an arbitration case might want to buy lunch and dinner for Goldman Sachs’ senior executive Greg Smith.

Perhaps I should say former senior executive Greg Smith as he admits that today will be his last day at the firm. What else does Mr. Smith have to say? A LOT and if you see smoke rising off the top of 200 West Street today it is likely the steam rising from the heads of Lloyd Blankfein, Gary Cohn, and the other chiefs at Wall Street’s dominant firm.  (more…)

Goldman’s van Praag: “People Don’t Understand”

Posted by Larry Doyle on February 23rd, 2012 12:58 PM |

“You can’t regulate and legislate for greed and stupidity.”

In the course of a riveting 30+ minute interview, soon to depart public relations chief Lucas van Praag of Goldman Sachs made the above point and many more as he spoke openly and extemporaneously on a number of topics.

The fascinating dynamic at work in this interview with the Dutch television program Tegenlicht is the fact that van Praag does not seem to fully appreciate that he is being taped. Much of what van Praag addresses would seem to toe the Goldman party line, but he does speak in such a matter of fact style that we learn a lot about the mentality and culture at work inside the offices of Goldman Sachs.

What are some of the general themes of van Praag’s commentary?  (more…)

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