The Decline of the Client

Posted on March 17, 2012

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More of us working in banks or as clients of banks need to be sharing our experiences dealing in finance.  Let’s talk about it over sandwiches!  These businesses need to prosper or fail based on their ability to be of value in our society.  Just the other day, Greg Smith, a former Goldman Sachs employee, wrote a heroic / career-suicidal (?) piece confirming the co. as the client-screwing investment bank many of us have suspected it has become.  Most of us do not have the type of skrilla to be investing with Goldman Sachs anyway.  But, his piece finally sorts, cans and labels the source of the mystery stench we’ve been holding our noses at for so long, so that we may learn from it going forward!

One controversial tidbit is that apparently, Goldman Sachs heads referred to clients as “Muppets”.  Funny or Die comedy shows how the Muppets decided to fight back.

Read Greg Smith’s article first, then this comment from a Goldman Sach’s client highlighted by the New York Times, speaking of the same kind of lack of explanation and lack of transparency we know all too well, even at our local banks:

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Posted in: people's stories