The Letter Heard Round The World

If you haven’t seen this bouncing around the internet, here you go: a very public letter of resignation from Goldman-Sachs from Greg Smith, one of their executive directors.  You can guess by the fact this is very public he wasn’t happy, and essentially sites a declining culture focused on quick profits over relationships and dehumanizing to clients.

So my guess is that you don’t feel you have to read it because you’re nodding vigorously.  Still, take the time to go through it.

I’ve followed some pushback, but most of it is assuming he was disgruntled – but few disgruntled people tell off a company that large (and to an extent an entire industry) over a low bonus or a lack of promotion.  If that was the case, we’d see a lot more of it.

Curious where Mr. Smith goes next and if this letter will produce any actions or penetrate further into public conciousness.  Certainly there’s concern over financial regulation – and I’m wondering just how badly he’s screwed Goldman-Sachs.

Steven Savage