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Former Banker Promises Inside Peek at Goldman
http://www.cnbc.com//id/49018367...
Mr. Smith's memoir, "Why I Left Goldman Sachs," is set for publication on Oct. 22. The release date comes just seven months after Mr. Smith publicly resigned from the bank with an Op-Ed page article in The New York Times that detailed his disappointment with Goldman's business practices that reflected, more broadly, a corrosive culture at the nation's largest banks.
...
His book comes at an inopportune moment for Goldman, which has largely disappeared from the spotlight after a wave of negative publicity damaged the bank's reputation.
...
"Why I Left Goldman Sachs" promises to be a tell-all of Mr. Smith's 12-year career at the bank. His opinion article in The Times described Goldman as a once-vaunted institution that had lost its way. He wrote that when he first joined the bank as an intern in the summer of 2000, it obsessively put its clients' interests first.
But over time, Mr. Smith said, Goldman devolved into a "toxic and destructive" culture that put profit before principle. His former colleagues mocked their clients, he said, derisively referring to them as "muppets."
Mr. Smith's memoir, "Why I Left Goldman Sachs," is set for publication on Oct. 22. The release date comes just seven months after Mr. Smith publicly resigned from the bank with an Op-Ed page article in The New York Times that detailed his disappointment with Goldman's business practices that reflected, more broadly, a corrosive culture at the nation's largest banks.
...
His book comes at an inopportune moment for Goldman, which has largely disappeared from the spotlight after a wave of negative publicity damaged the bank's reputation.
...
"Why I Left Goldman Sachs" promises to be a tell-all of Mr. Smith's 12-year career at the bank. His opinion article in The Times described Goldman as a once-vaunted institution that had lost its way. He wrote that when he first joined the bank as an intern in the summer of 2000, it obsessively put its clients' interests first.
But over time, Mr. Smith said, Goldman devolved into a "toxic and destructive" culture that put profit before principle. His former colleagues mocked their clients, he said, derisively referring to them as "muppets."
