Greg Smith’s letter of resignation from Goldman Sachs may have cost the firm $2.15 billion in market value. Finalternatives reports that Goldman shares lost 3.4% in New York trading on Thursday, a day after the former Goldman exec and hedge fund advisor bid farewell to the investment bank in a widely read New York Times op-ed piece on Wednesday.
“It makes me ill how callously people talk about ripping their clients off,” Smith wrote. “Over the last 12 months I have seen five different managing directors refer to their own clients as ‘muppets,’ sometimes over internal e-mail…No humility? I mean, come on. Integrity? It is eroding.”
Smith laid the blame for that erosion firmly at the feet of Goldman Chief Executive Officer Lloyd Blankfein and President Gary D. Cohn….
Find out more at http://www.finalternatives.com/node/19941
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