Ex-Goldman Sachs Salesman Publishes Unflattering Memoir Of Firm

Greg Smith cited his Maccabiah Games medal in op-ed that first criticzed bank.

10/16/12
Staff Writer
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Goldman Sachs salesman and Maccabiah medalist Greg Smith, who created a scandal in financial circles with his unflattering behind-the-scenes look at life on Wall Street in a New York Times article a half-year ago, is in the news again.

Based on the article, Smith made received several fat offers for a book, “Why I Left Goldman Sachs: A Wall Street Story,” that was released on Monday by Grand Central Publishing.

The first chapter of his book was also made available for download on Apple’s  iTunes store. A blog on the Wall Street Journal website, “Greg Smith’s Boring First Chapter on Goldman Sachs,” called the excerpt “dull.”

“The opening chapter is no page turner with gripping anecdotes,” the blog by David Benoit stated. “If this book is worth reading, it will need something more compelling than an executive pretending to be a jerk to teach the interns to be honest.”

In his Times op-ed article in March, Smith, the son of a Johannesburg pharmacist, cited his background as a Rhodes Scholar national finalist and his experience as a bronze medal winner in table tennis at Israel’s Maccabiah Games.

He described a “toxic” corporate culture where “the interests of the client continue to be sidelined” and employees “callously talk about ripping their clients off.”

The first chapter of his book tells about the intimidating, fiercely competitive in which Goldman Sachs employees and applicants operate. The Times article said Smith’s book discusses demeaning, intimidating conduct by the firm’s high-ranking executives.
 

Last Update:

10/16/2012 - 09:07

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