Updated:

Jan 14, 2019

Original:

Jul 31, 2009

Real Goldman Sachs Employees Demand Accountability At Fashion Meets Finance

Author:

By now it's been pretty well established that the RSVP list to this year's meet up of the worst people on earth is riddled with lies. We assumed everyone would be over it by now, but no-- a lot of you are beside yourselves, this idea that people might be fucking with you ("They're trying to mess with us? They thought they could mess with us?!?"), and need to work through the shock/pain/grief. As always, we're (begrudgingly) here for you.

To: DealBreaker
From: [redacted at Goldman Sachs]
Subject: FMF shenanigans con't
Bess--
Also writing from Goldman here, re: FMF. I checked out the directory to cross-reference the names of people allegedly attending the event from GS and as was pointed out yesterday, there are maybe three people listed who actually work here, the rest are shams. Among those telling the truth, I'm being honest when I tell you that I snorted to myself upon noting their actual titles compared to the inflated ones submitted to FMF. I can tell you with a level of certainty that their salaries are NOT what they say they are. It's rather absurd that they/the GS imposters are being allowed to get away with this, and I hope they're stopped at the door.

Earlier: Fashion Meets Finance: The Hits Just Keep On Coming

Back in March, a young man named Greg Smith published an Op-Ed in the Times called "Why I Am Leaving Goldman Sachs." Greg wrote that despite joining a firm that, in the beginning, cared about "teamwork, integrity, a spirit of humility, and always doing right by clients" and not "just about making money," he'd ultimately come to be sickened by a place that, twelve years later, he couldn't even recognize. A place that, on Lloyd Blankfein and Gary Cohn's watch, had lost its way. A place that, he'd come to see, was devoid of any sort of morals, whatsoever. A place that needed to take a long hard look at what it had become. A place that, he predicted, was not long for this earth. Because unlike Smith, whose proudest moments in life-- "being selected as a Rhodes Scholar national finalist and winning a bronze medal for table tennis at the Maccabiah Games in Israel, known as the Jewish Olympics," respectively-- involved hard work and no short cuts, "Goldman Sachs today," Smith wrote, is all "about the shortcuts and not enough about achievements." Goldman Sachs 2.o, one might say, hasn't worked an honest day in its life and that didn't feel right to Smith anymore. The piece, which was said to come as shock to Goldman, did not please many people on the inside, nor did the $1.5 million deal Smith scored shortly thereafter to write Why I Left Goldman Sachs: A Wall Street Story, out October 22. Here's how Greg's publisher describes WILGS: From the shenanigans of his summer internship during the technology bubble to Las Vegas hot tubs and the excesses of the real estate boom; from the career lifeline he received from an NFL Hall of Famer during the bear market to the day Warren Buffett came to save Goldman Sachs from extinction-Smith will take the reader on his personal journey through the firm, and bring us inside the world's most powerful bank. And while higher-ups at GS may have been initially worried about the potentially damaging revelations that would appear in the book, apparently time, a slap in the face and an order to 'get it together you pustulant milquetoasts' by the ghost of Lucas van Praag has resulted in this delightfully bitchy, exceptionally underminery comment from 200 West: “Every day, some young professional, after a decade in a post-collegiate job, reassesses his or her career and decides to move on and do something else,” David Wells, a Goldman Sachs spokesman said Dealbook in an e-mailed statement. “Others can better judge whether Mr. Smith’s particular career transition is of unique interest.” Regardless of whether or not Goldman is correct in its assessment that Greg's sounds like the story dozens of analyst finishing their first year would tell of the "epic" stuff they witnessed during their 12 months of banking (+previous summer internship, during which things got pretty crazy) or if his particular career transition is indeed of unique interest, Dealbreaker will be hosting an evening of dramatic readings of select chapters, with yet-to-be secured GS alum/raconteur/boulevardier Lucas van Praag standing in for the part of Mr. Smith. Venue and ticket pricing to follow. Former Banker Promises A Peek At Goldman Sachs [Dealbook] Earlier: Resignation Letter Reveals Goldman Sachs Is In The Business Of Making Money, Hires People Who Don’t Know How To Tie Their Shoes; Jewish Ping-Pong Tournament Participant / Sixth-Year Goldman Sachs Vice President Is Looking For His Next Challenge; Goldman Sachs Accuser Greg Smith (Might Have) Lied About That Which He Holds Most Sacred

Lesson 1, according the first chapter of Why I Left Goldman Sachs to leak online: the difference between a sandwich and a salad. You needed to be very entrepreneurial and creative. Adding value as an intern often began with getting coffee for the desk every day; frequently, interns also did breakfast and lunch runs. You would literally take a pen and pad and go around to the ten or fifteen people on the desk and take everyone's order. It's a strange concept, but Wall Street looks at attention to detail as an indicator of how people are going to do in their job. If a kid keeps messing up the lunch order, he's probably going to mess up something else down the line. I remember one managing director-- a few years after I'd started working at the firm-- who was very sensitive about his lunch orders. He didn't eat onion or certain other things. One day he asked an intern for a cheddar cheese sandwich, and the kid came back with a cheddar cheese salad. The kid handed it to him so proudly: "Here's your cheddar cheese salad." I was sitting next to the MD, so I remember the incident well. He opened the container, looked at the salad, looked up at the kid, closed the container, and threw it in the trash. It was a bit harsh, but it was also a teaching moment. The managing director joked about it with the kid afterward; he didn't make a big deal about it. The lesson was learned. Chapter 1: "I Don't Know, But I'll Find Out" [PDF] Earlier: What Else Does Goldman Sachs Have In Store For Greg Smith?; Goldman Sachs Unimpressed By Sophomoric Writing Efforts Of Former Employee; Resignation Letter Reveals Goldman Sachs Is In The Business Of Making Money, Hires People Who Don’t Know How To Tie Their Shoes; Jewish Ping-Pong Tournament Participant / Sixth-Year Goldman Sachs Vice President Is Looking For His Next Challenge; Goldman Sachs Accuser Greg Smith (Might Have) Lied About That Which He Holds Most Sacred

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