I’m sure that by now we have all read Greg Smith’s resignation letter.
Being neither an employee nor a customer of Goldman Sachs I won’t comment on the veracity of the claims within the missive but many of those who have commented about it on the sites of our so-called quality newspapers have not been as restrained.
How much we can read into the parting shots of someone who, despite being of ‘executive director’ (a somewhat debased job description these days), had, if Peston has his figures correct,
…more than 2000 managing directors and partners above him in the pecking order…
though is debatable. But, as Timmy points out, if they are true this is likely to be a self-correcting problem as clients take their money elsewhere.
No, in the long run I hope for his sake that Greg Smith made his pile before he cut and ran as this little stunt, however cathartic it may have been, will likely render him utterly unemployable in the financial sector – and probably many others as well.