Why I Left Goldman Sachs: A Wall Street Story Audiobook
Why I Left Goldman Sachs: A Wall Street Story Audiobook
- Greg Smith
- Hachette Book Group USA
- 2012-10-22
- 8 h 30 min
Summary:
On March 14, 2012, a lot more than three million people browse Greg Smith’s bombshell Op-Ed in the brand new York Moments titled ‘Why I Am Leaving Goldman Sachs.’ The column immediately went viral, became an internationally trending topic on Twitter, and drew passionate responses from former Given chairman Paul Volcker, legendary General Electric powered CEO Jack Welch, and New York City mayor Mike Bloomberg. Mostly, though, it hit a nerve among the general public who query the function of Wall Street in society — as well as the about Why I Still left Goldman Sachs: A Wall Street Tale callous ‘take-the-money-and-run’ mentality that brought the globe economy to its knees a few brief years back. Smith now picks up where his Op-Ed remaining off.
His story begins in the summertime of 2000, when an idealistic 21-year-old arrives as an intern at Goldman Sachs and learns about the firm’s Business Concept #1: Our clients’ passions always come first. This remains Smith’s mantra as he increases from intern to analyst to product sales trader, with clients controlling assets of more than a trillion dollars.
From your shenanigans of his summer internship during the technology bubble to Las Vegas hot tubs and the excesses of the true estate boom; in the profession lifeline he received from an NFL Hall of Famer through the bear market to the day Warren Buffett came to save Goldman Sachs from extinction-Smith will take the audience on his personal trip through the firm, and bring us inside the world’s most powerful bank.
Smith describes in page-turning detail the way the most storied expense bank on Wall Street went from taking iconic businesses like Ford, Sears, and Microsoft general public to learning to be a ‘vampire squid’ that referred to its clients as ‘muppets’ and paid the government an archive half-billion dollars to settle SEC costs. He shows the advancement of Wall Street into a business riddled with conflicts appealing and a profit-at-all-costs mentality: a properly rigged video game at the trouble of the overall economy as well as the society most importantly.
After conversations with nine Goldman Sachs partners over a twelve-month period proved fruitless, Smith came to believe that the only path the machine would ever modify was for an insider to finally speak out publicly. He strolled from his career and took matters into his own hands. This is his story.