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March 14, 2012

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remark

you may remember a broker called "Blinder & Robinson" from the 8o ties - the market named that company also "Blind them & Rob them" where them = clients - so nothing really changed

tonyw

I like the way Andy Borowitz puts it in his borowitzreport dotcom:
"...
At Goldman, we pride ourselves on our ability to scour the world’s universities and business schools for the finest sociopaths money will buy. Once in our internship program, these youths are subjected to rigorous evaluations to root out even the slightest evidence of a soul. But, as the case of Mr. Smith shows, even the most time-tested system for detecting shreds of humanity can blow a gasket now and then. For that, we can only offer you our deepest apology and the reassurance that one good apple won’t spoil the whole bunch
..."

Chris - you haven't commented on this, so what's your take?
They're not called the vampire squid for nothing
How come it took him 12 years to work it out?
Is he going to voluntarily refund 12 years compensation?
Greg Smith is going to find it really hard to get a new job.
It's an insult to the Muppets
.....

Chris Skinner

Tony

See update above for my reaction,

Chris

Chris

Hi Chris,

Now I am really not an expert in this field, but when I hear the all these stories about Goldman I would like to know why they are still attracting clients.

I mean when you do business with a party you would like to see them making a profit for you, in addition to the profit they make of your transaction.

When I read the above article it seems they are only intersted in their own profit and will do anything to get it. Even selling "junk" to their clients.

In any normal shop clients wouldn't accept this I would say. And this is even for smaller amounts ?

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