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Greg Smith

Goldman Sachs revealed as purveyors of pirate capitalism

Goldman Sachs revealed as purveyors of pirate capitalism

The good news is that $2.15 billion of Goldman Sachs’ market value was wiped out by a disillusioned executive’s very public parting shot at the investment bank’s greed and selfish cynicism. The bad news is it will probably be a temporary loss and will do little to change the ethical climate at Goldman Sachs or in the larger world of Wall Street. Pirates are a hard bunch to reform. Greg Smith is the 33-year-old, London-based head of Goldman Sachs’ overseas equity derivatives business who quit his job just minutes before his explosive Op-Ed article appeared in Wednesday’s New York Times. In his piece, Smith wrote, “It makes me ill how callously people...

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