Goldman Sachs 'muppet' trader says unsophisticated clients targeted
From guardian.co.uk
Greg Smith, the former Goldman Sachs employee who infamously quit Wall Street via a New York Times article in March, says the investment bank routinely took advantage of charities and pension funds in order to increase its profits. In an interview on CBS News' 60 Minutes on Sunday to promote the release of his book called Why I Left Goldman Sachs: A Wall Street Story, Smith said that securing an unsophisticated, or "muppet" client was the top goal of the bank's salespeople. His frustrations with that culture meant he "literally wanted to hit the board of directors over the head". "Getting an unsophisticated client ...
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