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Greg Smith may really believe Goldman Sachs (GS) is run by "morally bankrupt" people out to rip...

Greg Smith may really believe Goldman Sachs (GS) is run by "morally bankrupt" people out to rip off their clients. But that's old news, Charlie Gasparino writes; Smith needs to wake up to the less-sincere motives of the NY Times, who published his resignation letter that went viral. Gasparino sees Smith as a pawn used by the Times to score political points and advance its class warfare agenda.
Comments (31)
  • D_Virginia
    , contributor
    Comments (2280) | Send Message
     
    So what? The WSJ publishes op eds all the time to advance their rich-on-poor class warfare agenda. Tomayto/tomahto.

     

    And regardless of the publisher's motivations, does it make the letter any less accurate? The waking up Smith needs to do is to realize that GS is probably far more corrupt than even he thinks it is, and has been so for much longer than he was ever employed there.
    17 Mar 2012, 09:29 AM Reply Like
  • wyostocks
    , contributor
    Comments (8914) | Send Message
     
    GS is no more corrupt than the Times.
    Did you notice while they rant about executive salaries on Wall Street they gave their own fired president a $24 Million going away present?
    17 Mar 2012, 10:03 AM Reply Like
  • laogao
    , contributor
    Comments (88) | Send Message
     
    So do we buy GS or sell GS based on the article and your views?
    17 Mar 2012, 10:04 AM Reply Like
  • Econdoc
    , contributor
    Comments (2944) | Send Message
     
    you buy it.

     

    as for Greg Smith. Charlie's right. he is a disgruntled loser being used to sell a few copies of fish wrap - his bonus was probably 50% of what he thought he deserved and that's what pissed him off. how many years was he there? why not just give the money to charity - all of it and then go public with this crap. Loser.

     

    E
    17 Mar 2012, 10:32 AM Reply Like
  • wyostocks
    , contributor
    Comments (8914) | Send Message
     
    d_v
    "...GS is probably far more corrupt....."

     

    Whatever you personally may think of GS, they only deal with others firms and people at their level. I don't recall anywhere when they "forced" anybody to buy the crap they were selling.

     

    The people who bought the crappy investments they were selling were just as greedy as those selling it. They also had many fellow employees who had plenty of opportunity to do their due diligence before writing the check.

     

    It is akin to a card game where everybody at the table knows full well there is a good chance that everyone else is a cheat.
    17 Mar 2012, 10:45 AM Reply Like
  • Mike Maher
    , contributor
    Comments (2727) | Send Message
     
    Either that or a mid-life crisis. I'd wager that half the country wishes they made enough money that they could work for 12 years, and quit it a super-public fashion. I wonder how much stock he still owns?
    17 Mar 2012, 11:41 AM Reply Like
  • TomasViewPoint
    , contributor
    Comments (4845) | Send Message
     
    wyo

     

    Need to give you 10 thumbs up for the below. The populist point of view of GS is BS.

     

    It is akin to a card game where everybody at the table knows full well there is a good chance that everyone else is a cheat.
    17 Mar 2012, 01:59 PM Reply Like
  • 153972
    , contributor
    Comments (834) | Send Message
     
    Here, Here!!! Shoot the messenger!!!
    19 Mar 2012, 04:00 PM Reply Like
  • 7footMoose
    , contributor
    Comments (2266) | Send Message
     
    I didn't know that Charlie G. was still around. I thought he had crawled back under a rock.
    17 Mar 2012, 09:39 AM Reply Like
  • OptionManiac
    , contributor
    Comments (3388) | Send Message
     
    The truth should never be published, the masses just can't handle the truth.
    17 Mar 2012, 09:54 AM Reply Like
  • The Geoffster
    , contributor
    Comments (4107) | Send Message
     
    Whoever undertakes to set himself up as a judge of Truth and Knowledge is shipwrecked by the laughter of the gods.
    Albert Einstein
    17 Mar 2012, 10:16 AM Reply Like
  • Saratogapete
    , contributor
    Comments (3) | Send Message
     
    Charlie G. is correct. He worked there 17 years and now he is fed up. Why did he wait? If they were so dishonest how can he justify getting paid all those years? They are a business, there to make money. I'm sure that they don't do anymore then any other company. When I ran my business I had UPS,DHL, or FED EX constantly trying to cheat the Company. This is just class warfare that Obama has started. I had to sue Chase Bank 3 times for cheating(won all 3 times in court). Is Goldman better or worse?
    17 Mar 2012, 12:17 PM Reply Like
  • D_Virginia
    , contributor
    Comments (2280) | Send Message
     
    > This is just class warfare that Obama has started.

     

    Actually the rich started, many, many years ago.

     

    Some people are just finally fighting back. :)
    17 Mar 2012, 12:21 PM Reply Like
  • TomasViewPoint
    , contributor
    Comments (4845) | Send Message
     
    how many years ago? I need to know since you have an exact date.
    17 Mar 2012, 02:00 PM Reply Like
  • gt6731a
    , contributor
    Comment (1) | Send Message
     
    Maybe Smith wasn't a pawn. Maybe Smith used NYTimes as a pawn knowing that they have a class agenda. Perhaps he has one as well.
    17 Mar 2012, 12:58 PM Reply Like
  • sfb
    , contributor
    Comments (2) | Send Message
     
    Why should anyone think that GS is unique
    17 Mar 2012, 12:58 PM Reply Like
  • TomasViewPoint
    , contributor
    Comments (4845) | Send Message
     
    Can we just admit that large business and large government are corrupt by their very nature. And that large media is large business and therefore they are corrupt too.

     

    Enough of trying to find the moral high ground amongst these pathetic institutions. If they all know that we know that they are corrupted by their very size it would change the conversation and our collective behavior. Instead we have idiots trying to find the holiness in their favorite institution all they while they drink from the cess pool.

     

    Can you handle the truth?
    17 Mar 2012, 02:04 PM Reply Like
  • Poor Texan
    , contributor
    Comments (3533) | Send Message
     
    TVP

     

    Power corrupts.

     

    Absolute power corrupts absolutely.

     

    Forgot the author.
    17 Mar 2012, 09:26 PM Reply Like
  • 153972
    , contributor
    Comments (834) | Send Message
     
    Lord Acton was the author.
    19 Mar 2012, 04:03 PM Reply Like
  • 00Billy
    , contributor
    Comments (113) | Send Message
     
    question is how many more idiots like Greg does GS have?

     

    GS is a definite buy after this...
    17 Mar 2012, 02:51 PM Reply Like
  • jstratt
    , contributor
    Comments (2823) | Send Message
     
    I think everyone has an opinion on whether this rings true and not many minds will change. So lets see

     

    1) Flash trading involves spying on others trades and trading ahead of them. Which is ethical in whose mind?

     

    2) Letting Paulson pick the worst mortgage risks and then reportedly pumping them to clients. Which is legal and ethical in what culture since the existence of the homo sapien species?

     

    3) How is it that GS alums happen to be the greatest candidates for government financial positions? Raw inteligence or money?
    I cant imagine anyone would think this disgruntled employee could be telling the truth.
    17 Mar 2012, 07:22 PM Reply Like
  • BooGP
    , contributor
    Comments (50) | Send Message
     
    I don't understand how it scores any political points....Wall Street owns Obama and Wall Street will own Romney if he is elected. Slamming Goldman doesn't benefit Obama, imo.
    18 Mar 2012, 12:23 AM Reply Like
  • KJP712
    , contributor
    Comments (454) | Send Message
     
    I think Mr.Smith is ready to run for Congress.
    18 Mar 2012, 12:32 AM Reply Like
  • User 462216
    , contributor
    Comments (95) | Send Message
     
    Mr. Smith sent his resume to the SEC and needed a referral from the Times, he is still upset at Goldman for not giving him the finance ministers job in Hungary. I know don't hate the game ...hate the player :)
    18 Mar 2012, 06:15 AM Reply Like
  • D_Virginia
    , contributor
    Comments (2280) | Send Message
     
    You joke, but indeed it will be very interesting to note where Mr. Smith goes from here. Another scummy investment bank? His own hedge fund? A toothless, underfunded regulatory agency?
    18 Mar 2012, 05:57 PM Reply Like
  • TomasViewPoint
    , contributor
    Comments (4845) | Send Message
     
    He will write a book. Do a book tour. Cry and moan how he was in a den of thieves but he was not one of them.

     

    And if only people would listen to him and his superior morality we would all be in Nirvana.
    18 Mar 2012, 06:47 PM Reply Like
  • Dr. V
    , contributor
    Comments (1179) | Send Message
     
    You laugh, but I got a Bejamin that says he cries like a little girl on Oprah.

     

    And she could become the "pusher lady", or his "enabler" if there is a book deal, get right up there on her list.

     

    Probably already applied for a restraining order against Glenn Beck.
    20 Mar 2012, 10:05 AM Reply Like
  • TomasViewPoint
    , contributor
    Comments (4845) | Send Message
     
    Of course he will not return any big bonuses he made at GS. He doesn't feel that bad about it.
    20 Mar 2012, 10:38 AM Reply Like
  • swaps
    , contributor
    Comments (1363) | Send Message
     
    Both GS and NYT are down from their all time hights. will they ever claw back?
    1 Apr 2012, 01:06 AM Reply Like
  • Saratogapete
    , contributor
    Comments (3) | Send Message
     
    GS will be back and should have a good quarter
    1 Apr 2012, 10:32 AM Reply Like
  • Poor Texan
    , contributor
    Comments (3533) | Send Message
     
    Who will they be ripping off?
    1 Apr 2012, 09:29 PM Reply Like
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