Goldman Sachs director quits 'morally bankrupt' Wall Street bank

"A Summary" – Apr 2, 2011 (Kryon channelled by Lee Carroll) (Subjects: Religion, Shift of Human Consciousness, 2012, Intelligent/Benevolent Design, EU, South America, 5 Currencies, Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Middle East, Internet, Israel, Dictators, Palestine, US, Japan (Quake/Tsunami Disasters , People, Society ...), Nuclear Power Revealed, Hydro Power, Geothermal Power, Moon, Financial Institutes (Recession, Realign integrity values ..) , China, North Korea, Global Unity,..... etc.) - (Text version)

“2011 and Beyond” - What you are seeing, and why - Jan 16, 2011 (Kryon channelled by Lee Carroll) - (Text version)

"The Timing of the Great Shift" – Mar 21, 2009 (Kryon channelled by Lee Carroll) - (Text version)

“ … Here is another one. A change in what Human nature will allow for government. "Careful, Kryon, don't talk about politics. You'll get in trouble." I won't get in trouble. I'm going to tell you to watch for leadership that cares about you. "You mean politics is going to change?" It already has. It's beginning. Watch for it. You're going to see a total phase-out of old energy dictatorships eventually. The potential is that you're going to see that before 2013.
They're going to fall over, you know, because the energy of the population will not sustain an old energy leader ..."

"Update on Current Events" – Jul 23, 2011 (Kryon channelled by Lee Carroll) - (Subjects: The Humanization of God, Gaia, Shift of Human Consciousness, 2012, Benevolent Design, Financial Institutes (Recession, System to Change ...), Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Nuclear Power Revealed, Geothermal Power, Hydro Power, Drinking Water from Seawater, No need for Oil as Much, Middle East in Peace, Persia/Iran Uprising, Muhammad, Israel, DNA, Two Dictators to fall soon, Africa, China, (Old) Souls, Species to go, Whales to Humans, Global Unity,..... etc.)

"The Recalibration of Awareness – Apr 20/21, 2012 (Kryon channeled by Lee Carroll) (Subjects: Old Energy, Recalibration Lectures, God / Creator, Religions/Spiritual systems (Catholic Church, Priests/Nun’s, Worship, John Paul Pope, Women in the Church otherwise church will go, Current Pope won’t do it), Middle East, Jews, Governments will change (Internet, Media, Democracies, Dictators, North Korea, Nations voted at once), Integrity (Businesses, Tobacco Companies, Bankers/ Financial Institutes, Pharmaceutical company to collapse), Illuminati (Started in Greece, with Shipping, Financial markets, Stock markets, Pharmaceutical money (fund to build Africa, to develop)), Shift of Human Consciousness, (Old) Souls, Women, Masters to/already come back, Global Unity.... etc.) - (Text version)

“… The Shift in Human Nature

You're starting to see integrity change. Awareness recalibrates integrity, and the Human Being who would sit there and take advantage of another Human Being in an old energy would never do it in a new energy. The reason? It will become intuitive, so this is a shift in Human Nature as well, for in the past you have assumed that people take advantage of people first and integrity comes later. That's just ordinary Human nature.

In the past, Human nature expressed within governments worked like this: If you were stronger than the other one, you simply conquered them. If you were strong, it was an invitation to conquer. If you were weak, it was an invitation to be conquered. No one even thought about it. It was the way of things. The bigger you could have your armies, the better they would do when you sent them out to conquer. That's not how you think today. Did you notice?

Any country that thinks this way today will not survive, for humanity has discovered that the world goes far better by putting things together instead of tearing them apart. The new energy puts the weak and strong together in ways that make sense and that have integrity. Take a look at what happened to some of the businesses in this great land (USA). Up to 30 years ago, when you started realizing some of them didn't have integrity, you eliminated them. What happened to the tobacco companies when you realized they were knowingly addicting your children? Today, they still sell their products to less-aware countries, but that will also change.

What did you do a few years ago when you realized that your bankers were actually selling you homes that they knew you couldn't pay for later? They were walking away, smiling greedily, not thinking about the heartbreak that was to follow when a life's dream would be lost. Dear American, you are in a recession. However, this is like when you prune a tree and cut back the branches. When the tree grows back, you've got control and the branches will grow bigger and stronger than they were before, without the greed factor. Then, if you don't like the way it grows back, you'll prune it again! I tell you this because awareness is now in control of big money. It's right before your eyes, what you're doing. But fear often rules. …”

"The Great Escape" - Mar 11, 2017 (Kryon Channelling by Lee Carroll)

“… The Fall of Many - Seen It Yet?

You are going to see more and more personal secrets being revealed about persons in high places of popularity or government. It will seem like an epidemic of non-integrity! But what is happening is exactly what we have been teaching. The new energy has light that will expose the darkness of things that are not commensurate with integrity. They have always been there, and they were kept from being seen by many who keep secrets in the dark. Seen the change yet?

In order to get to a more stable future, you will have to go through gyrations of dark and light. What this means is that the dark is going to be revealed and push back at you. It will eventually lose. We told you this. That's what you're here for is to help those around you who don't see an escape from the past. They didn't get their nuclear war, but everything else is going into the dumper anyway. … “

Wednesday, March 14, 2012

Goldman Sachs director quits 'morally bankrupt' Wall Street bank

Greg Smith resigns as executive director of Goldman's European equity derivatives business after devastating attack

guardian.co.uk, Juliette Garside, Wednesday 14 March 2012

An Occupy protester makes their views known on Goldman Sachs.
Photograph: Dan Dennison/Rex Features

A Goldman Sachs director in London has resigned after publishing a devastating open letter accusing senior staff of being "morally bankrupt" and bent on extracting maximum fees from clients by offloading unsuitable investment products.

Greg Smith, who has left his post as executive director of the firm's equity derivatives business in Europe, claimed that chief executive Lloyd Blankfein and president Gary Cohn have "lost hold of the firm's culture on their watch". He added that "this decline in the firm's moral fibre represents the single most serious threat to its long-run survival"..

Smith's charges, which were swiftly denied by the bank, were published in Wednesday's New York Times.

Smith, who joined Goldman as a summer intern and worked at the firm for 12 years, first in New York and then in London, claimed managing directors repeatedly referred to their clients as "muppets", sometimes over internal email.

"I attend derivatives sales meetings where not one single minute is spent asking questions about how we can help clients. It's purely about how we can make the most possible money off them."

Selected as one of 10 people, out of a firm of 30,000, to appear in a Goldman recruiting video which is played on college campuses around the world, Smith has hired and mentored new recruits and managed a summer intern programme for the bank.

"I knew it was time to leave when I realised I could no longer look students in the eye and tell them what a great place this was to work," he wrote.

He said junior analysts are absorbing a culture in which the most important question is "how much money did we make off the client?", and that hearing talk of "muppets," "ripping eyeballs out" and "getting paid" will not turn them into "model citizens".

"Leadership used to be about ideas, setting an example and doing the right thing. Today, if you make enough money for the firm (and are not currently an axe murderer) you will be promoted to a position of influence."

In response, Goldman Sachs denied that Smith was giving an accurate view of life at the company.

"We disagree with the views expressed, which we don't think reflect the way we run our business. In our view, we will only be successful if our clients are successful. This fundamental truth lies at the heart of how we conduct ourselves," the bank said.

Fast-track to promotion

Smith claims to have advised five the largest US asset managers, Middle East and Asian sovereign wealth funds, and the world's two largest hedge funds. His letter did not name them, but Bloomberg ranks Man Group and Bridgewater Associates as the biggest hedge funds.

He claims the fast-track to a Goldman promotion involves persuading clients to invest in stocks or other products "that we are trying to get rid of because they are not seen as having a lot of potential profit"; getting clients to trade "whatever will bring the biggest profit to Goldman" – referred to internally as hunting elephants and securing a job trading "any illiquid, opaque product with a three-letter acronym".

Goldman has lost the "secret sauce" that allowed it to endure for 143 years and is at risk of losing its clients' trust, wrote Smith: "Goldman Sachs is one of the world's largest and most important investment banks and it is too integral to global finance to continue to act in this way. The firm has veered so far from the place I joined right out of college that I can no longer in good conscience say that I identify with what it stands for."

Related Articles:

FDIC shoots to kill on "too big to fail"

Goldman banker always stuck to principles: former teacher

Goldman Stunned by Op-Ed Loses $2.2 Billion for Shareholders
A Public Exit From Goldman Sachs Hits at a Wounded Wall Street

Goldman Sachs workers on executive's exit: 'We can't, we're not… no comment'

Why I Am Leaving Goldman Sachs
Exec: Goldman officials called clients 'muppets'
Goldman Sachs director in London quits 'toxic' bank

GoldmanSachs exec leaves sinking ship in disgust

Goldman gets Wells notice from SEC: filing

FBI sees more hedge fund trading probe informants

The Large Families that rule the world

"Recalibration of Free Choice"– Mar 3, 2012 (Kryon Channelling by Lee Caroll) - (Subjects: (Old) Souls, Midpoint on 21-12-2012, Shift of Human Consciousness, Black & White vs. Color, 1 - Spirituality (Religions) shifting, Lose a Pope “soon”, 2 - Humans will change react to drama, 3 - Civilizations/Population on Earth, 4 - Alternate energy sources (Geothermal, Tidal (Pedal wheels), Wind), 5 – Financials Institutes/concepts will change (Integrity – Ethical) , 6 - News/Media/TV to change, 7 – Big Pharmaceutical company will collapse “soon”, (Keep people sick), (Integrity – Ethical) 8 – Wars will be over on Earth, Global Unity, … etc.) - New !

Cempaka Occupy (The Old Paradigm of Reality - People / Organisations / Companies / Governments)

Pages

'Dump Trump': Tens of thousands join global march

March for Science protesters hit the streets worldwide

Bernie Sanders and the Movement Where the People Found Their Voice

Hong Kong's grandpa protesters speak softly but carry a stick

Hong Kong (China) Protests (China - Old Energy)

FIFA scandal engulfs Blatter and Platini

Shift of Human Consciousness

Wall Street's 'Fearless Girl' statue to stay until 2018

"Fearless Girl "

Corporate Social Responsibility / Integrity - Ethical / Truthful and Transparent

News Media

Departures - Fired

Search This Blog

Wednesday, March 14, 2012

Goldman Sachs director quits 'morally bankrupt' Wall Street bank

No comments:

Post a Comment

Blog Archive

Labels