Fuck You Greg

[lame54]

"I don’t know of any illegal behavior..."

Fuck You Greg, you fucking liar

enjoy your ill-gotten pension

http://www.nytimes.com/2012/03/14/opinion/why-i-am-leaving-goldman-sachs.html

Why I Am Leaving Goldman Sachs
By GREG SMITH
Published: March 14, 2012

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 e-mail. Even after the S.E.C., Fabulous Fab, Abacus, God’s work, Carl Levin, Vampire Squids? No humility? I mean, come on. Integrity? It is eroding. I don’t know of any illegal behavior, but will people push the envelope and pitch lucrative and complicated products to clients even if they are not the simplest investments or the ones most directly aligned with the client’s goals? Absolutely. Every day, in fact.

[The Velveteen Ocelot]

1. He makes a good point, though.

He says he didn't know of any illegal behavior. That could very well be true - there's a lot of stuff they did that wasn't illegal but should have been. The real problem all along was, and still is, that the investment banks like Goldman Sachs are subject to very little regulation. Regulation is needed to prevent people from behaving like greedy assholes - a point that seems to be lost on the "free market" advocates. If you don't regulate the people and institutions that have great power over financial transactions, they will rip off everybody else. This guy seems to have finally understood that very basic fact.

[lame54]

2. he's like a good cop...

who won't turn in the bad cops who he sees breaking laws everyday

he even says they ripped off their own clients

how do you legally rip someone off

rip-off = stealing

[The Velveteen Ocelot]

4. Sadly, the way they ripped off their clients probably was legal, technically.

And it should not be. I hope articles like this one open a few eyes to the way these investment banks really operate.

[lector]

5. rip off.

Are you really that naive? Legal rip offs happen every day. When a Car dealer make a $5,000 gross on a car he paid $2,000 for,
that fell apart in 6o0 miles, It is Morally reprehensible But it is legal. I stopped a so called contractor from charging my neighbor lady ( a senior) 1,000 bucks for a set of 200 dollar steps.

[lame54]

8. Are you gullible.?..

yes they had much wider birth in which to operate in - but you can bet they went outside of those parameters as often as they could

there are no police on the Wall Street beat

[unapatriciated]

11. We all know how loved used car dealers are.

[Rex]

3. It is sad how our capitalist system feeds off of criminal

like activity. At one time, they were in the business of building an empire. Now it is all about ME. That is what happens when nobody gives enough of a dam to regulate and place oversight where it is needed. Such a shame our government backs Wall Street and not Main Street. And this is not a D or R thing, both parties do it all the time.

You get the kind of government you vote in and then get the kind of economy the uber-wealthy decide is best for the working poor. Sad.

[lector]

7. not a D or R thing,

Yes it is. The GOP is running on the platform of removing regulations so the free market can work better!( yea right)
They don't see that 50% of the business would be like ENRON in the end.

[Rex]

10. Both parties embrace questionable business transactions.

True, the GOP would love to push us all over the edge with their free market. They do have a far more bent toward destruction then the Dems do. Just that both parties seem to overlook regulation and oversight when it is needed most.

[Poll_Blind]

6. So you're shitting on the whistleblower?

So instead of using this ammunition against Goldman Sachs, you choose to attack the whistle blower.

Heh heh, ok.

PB

[lame54]

9. he profited for 12 years...

and walked away with a fat bank account and a clean conscious

except he is watering down his story - no real harm will come to Goldman-Sachs because of this