Page Six has a follow-up to yesterday's story regarding partner managing director Richard Kimball Jr and the neighbors in Southampton whose summers he ruined by not even once considering inviting them over when he was having company. Apparently the bank was "not pleased" with the item. Because it attracted unwanted attention at a time when GS is trying to lay low and just be regular Joes? No! Because it failed to really express just how much puss Kimballer slayed through Labor Day. If you're going to write about the Masters of the Universe having sex parties in the backyard, at least make it halfway realistic. Place Lloyd at the scene. Throw in his wife. Have eyewitness accounts of 16 year-olds rolling around in sticky fifties. This shouldn't be that difficult, and yet, more than 24 hours after the fact, LB has received nary an email from friends asking "did you really mount a Sybian machine out East?" Failure all around.
Goldman Sachs Can Fix This
A week ago today, a man named Greg Smith resigned from Goldman Sachs. As a sort of exit interview, Smith explained his reasons for departing the firm in a New York Times Op-Ed entitled "Why I Am Leaving Goldman Sachs." The equity derivatives VP wrote that Goldman had "veered so far from the place I joined right out of college that I can no longer in good conscience say I identify with what it stands for." Smith went on to note that whereas the Goldman of today is "just about making money," the Goldman he knew as a young pup "revolved around teamwork, integrity, a spirit of humility, and always doing right by our clients." It was a culture that made him "love working for the firm" and its absence had stripped him of "pride and belief" he once held in the place. While claiming that Goldman Sachs has become virtually unrecognizable from the institution founded by Marcus (Goldman) and Samuel (Sachs), which put clients ahead of its own interests, is hardly a new argument, there was something about Smith's words that gave readers a moment's pause. He was so deeply distraught over the differences between the Goldman of 2012 and the Goldman of 2000 (when he was hired) that suggested...more. That he'd seen things. Things that had made an imprint on his soul. Things that he couldn't forget. Things that he held up in his heart for how Goldman should be and things that made it all the more difficult to ignore when it failed to live up to that ideal. Things like this: