I am having a hard time getting this week’s NY Times Op-Ed piece by Greg Smith, “Why I Am Leaving Goldman Sachs,” out of my mind.  This 33 year old executive, making $500,000 a year, wrote the piece to publicly and fully explain why he is leaving Goldman Sachs.  He wanted to expose the firm’s disregard and disrespect for its customers and their relentless drive to make money for GS even if it is not in the best interest of their clients.  As the banking industry is an easy target these days, the chatter on the talk shows and Internet exploded.  Some might even call the story the real “March Madness.”  Smith’s friends and others defended his view while the GS crisis management team tried to respond to, as one insider called it, the “bomb” dropped on the firm. Continue reading →