Time to Abandon Ship

14 Mar

Today we have an op-ed piece from The New York Times, titled Why I am Leaving Goldman Sachs, By Greg Smith.

It’s a sort of “How I spent my summer vacation” piece and a very enjoyable read. To get to the good parts of the article simply read about its coverage at ZeroHedge.

Considering this damnation and the close ties the bank has with the government and it’s personnel, why do we as a nation keep taking advice from institutions like this? It’s been going on for quite a few years at this level and where has it gotten us, is anyone better off now than they were 6 years ago, how about 3?

It’s nice to see Mr Smith has a concience and the integrity to stand for it as well. It’s just to bad it’s going to be swept under the rug by the traditional media after a few mentions today and then left to the world of blogging to fester like a soon to be gangrenous wound.

Isn’t it interesting how Congress was so proud of themselves to pass that insider trading bill recently. The one that’s supposed to limit their ability to use information about the market before anyone else (like that will work anyway, but that’s a story for another time), but they aren’t at all disturbed by the idea of still taking advice from those same people? Why does it matter if Congress isn’t “supposed” to take advantage of privaleged information for personal gain, when the people on the other end are free to do the same thing?

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