Greg Smith's New York Times Op-Ed was on screens all around the headquarters of Goldman Sachs this morning but most people weren't discussing it out loud, according to six sources at in various parts of the firm.
"People are being quiet about it. Waiting for the talking points from the executive committee," one person said.
There was a mixed reaction to the piece within the firm.
For some people, the grievances of Smith resonated with their own experiences at Goldman. Others saw his Op-Ed as a betrayal that missed what they regard as still great about the firm.
"Personally, I agree. In the few short years I've been here, I have seen a change in the culture. It's all about making money for the sales people and the firm," one person said. "There's little talk of actually helping clients."
"Reading the Op-Ed really has me re-thinking what I'm doing here," one managing director at the firm said this morning.
"I came here because we were good citizens. Cleaned up rivers, worked to make clients reach their goals. We even closed early when the power-grid was strained in summertime. We weren't dumb and greedy, like a Bear Stearns. Now, I hate to admit, we might not be dumb but we're as greedy as those guys ever were."
"There's no 'here' here anymore," said one employee. "I think it went south after Hank [Paulson] left and Lloyd [Blankfein] took over," said one employee I spoke with.Page 1 of 3 | Next Page