Our Clients Aren’t ‘Muppets’

Amazing op-ed from resigning Goldman Sachs derivatives director Greg Smith, discussing how the firm’s culture became more about taking advantage of clients as opposed to serving their best interests.  Unlike derivatives desks across the spectrum, we have no “axes” to grind here, we don’t hunt elephants, and we don’t advise our clients to trade in the illiquid exotic derivatives that turned credit underwriting on its head over the past decade.  Greed kills! (New York Times)