[GPSCC-chat] Inside look at Goldman Sachs

[Wes Rolley]

Gerry and all,
I left Gerry's links on this because it would be easy to compare 
viewpoints.  There is no doubt that this resignation letter OpEd in the 
NY Times merely confirms all that most progressives believe about 
Goldman Sachs.

  http://www.nbr.com/leaders-influencers/goldman-sachs-takes-a-hit-after-an-executives-exit-20120314

I was surprised at the manner in which this was treated on PBS's Nightly 
Business Report last night.  Key points:  much blame goes to current 
(since 2006) executive leadership; in the long run, it will hot hurt GS 
very much unless more top people leave.

The fault, per guest Peter Cohen, lies in having a trader as CEO who 
puts emphasis on short term results with little attention going to the 
development of long term relationships with the major customers that 
they serve.  This was a major change in GS culture.

This is not an apology for GS, nor an attempt to just lay the blame on 
CEO Blankenship, but rather an attempt to call attention to the fact 
that the evil is well entrenched in our culture and much harder to deal 
with than a single CEO or single company.

Wes
On 3/15/2012 10:42 AM, Gerry Gras wrote:
>
> FYI,
>
> A response from Truthdig:
>
> http://www.truthdig.com/report/item/at_last_some_decency_on_wall_street_20120314/ 
>
>
> Gerry
>
>
> Gerry Gras wrote:
>>
>> FYI,
>>
>> An inside critical look at Goldman Sachs:
>>
>> "Why I Am Leaving Goldman Sachs"
>> http://www.commondreams.org/view/2012/03/14-5
>>
>> Gerry
> _______________________________________________