Sunday, October 21, 2012

Anderson Cooper on 60 Minutes: Resignation

Anderson's segment tonight was about a Greg Smith, a Goldman Sach's VP, who resigned via a scathing op-ed piece in the New York Times.  Tonight Smith was explaining why he quit ~

And some "Web Extras" from ~

Calling clients "Muppets" and worse 
Goldman Sachs employees are accused of calling their clients "Muppets," but according to USD professor Frank Partnoy, that's not the worst thing that's ever been said on Wall Street.

Making millions on "elephant trades"
Ex-employee Greg Smith accuses Goldman Sachs of selling financial products so complex that clients don't understand how much they're paying in hidden fees.

Starting out at Goldman Sachs
"It was one of the happiest days of my life," says ex-banker Greg Smith about being hired by Goldman Sachs. Years later, Smith publicly resigned from the firm in a newspaper article.

AC360 Transcript
AC360 Podcast

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