This piece from today's NYT, Why I am Leaving Goldman Sachs
is another that highlights the corporate corruption that we need to root out if we are going to fix our economy and our society. I quote from the piece:
"To put the problem in the simplest terms, the interests of the client continue to be sidelined in the way the firm operates and thinks about making money. Goldman Sachs is one of the world’s largest and most important investment banks and it is too integral to global finance to continue to act this way. The firm has veered so far from the place I joined right out of college that I can no longer in good conscience say that I identify with what it stands for....
"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....
"It astounds me how little senior management gets a basic truth: If clients don’t trust you they will eventually stop doing business with you. It doesn’t matter how smart you are."
P.S. While I laughed at the sendup of this piece, Why I am Leaving the Empire, by Darth Vader
) I do hope that it doesn't distract from the importance of the piece written by a senior leader at one of our largest and most important financial firms. We need more corporate leaders to call out their firms and reinstitute a culture of citizenship and social conscience at our corporations.