Amy Goodman
@DemocracyNow·3.2M subscribers·19.4K videos
Matt Taibbi on the Explosive Resignation of Goldman Sachs Executive Greg Smith
Posted
March 22, 2012
Views
3,942
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March 22, 2012
3,942
30
4
0.86%
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3:41Now Playingdemocracynow.org - Financial reporter Matt Taibbi talks about Goldman Sach's history of denigrating its own clients, as recently highlighted by former Goldman executive Greg Smith's explosive resignation letter in the New York Times. Decrying what he called Goldman's "toxic" culture, Smith said bosses at the firm called their clients "muppets" and strove to maximize profits at the expense of client interests, adding: "It makes me ill how callously people talk about ripping their clients off." Goldman Sachs is now reportedly scanning internal emails for the term "muppet" and other evidence that employees referred to clients in derogatory ways. Taibbi argues it is naive to think there was ever a "golden era" when Goldman Sachs was a great financial institution.
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