[GPSCC-chat] Inside look at Goldman Sachs

[Gerry Gras]

Wes Rolley wrote:
> 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.

I agree.

I felt this article was important for 2 reasons:
1) it is an insider's perspective, i.e. a whistleblower,
    with more to lose from telling the truth
2) I think it was a stronger statement than any I had
    seen before, except for "Inside Job" (which is now
    available at the Palo Alto library, and it may be
    at other public libraries too).

>
> 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.

I wonder if that's true about not hurting GS.  As the author
said, trust is important, and this article should reduce trust...

>
> 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.

I agree.

Gerry

>
> 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
>> _______________________________________________
>
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