Greg Smith, Goldman Sachs manager, based in London , who headed Goldman’s equity derivatives business in Europe, has been quoted as describing how ‘it was common to hear talk of ripping off their “muppet” clients.’
The environment now is as toxic and destructive as I have ever seen it, I knew it was time to leave when I realised I could no longer look students in the eye and tell them what a great place this was to work…..it makes me ill how callously people talk about ripping their clients off. Over the last 12 months I have seen five different managing directors refer to their own clients as ‘muppets’, sometimes over internal email.
and thats coming from one of their own. But remember Cameron has asked us all not to attack the ethic of making a profit, but with the arroganceof these city b(w)ankers what else are you supposed to do!
Jason E Cooper 