You Can Add Another Group To The List Of "People" Goldman Sachs Deems "Second Class Citizens"

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Goldman Sachs views a lot of "people" (using the term generously, and quite charitably) as second class citizens. Matt Taibbi, its clients, kittens, the list goes on. This isn't a secret by any means, and even if you don't have your own laminated copy from which to consult, it'd probably be a good assumption that anyone employees who would be off cavorting around instead of making it rain would be on it right? Which is why it's sort of surprising to see someone attempting to throw the house policy back in Lloyd and Co's faces, especially considering she's a former employee who should know how this shit works.

The lawsuit, filed Wednesday in U.S. District Court in Manhattan, alleges that Charlotte Hanna, a former vice president at Goldman Sachs University, an internal training program, was discriminated against after having her first child in 2005 and was wrongfully terminated in 2009 while on maternity leave after having her second child. "Despite the firm's touted, self-serving commitments toward working mothers, it is clear that Goldman Sachs views working mothers as second-class citizens who should be at home with their children rather than contributing in the workplace as a productive employee," the lawsuit said.


Suit: Goldman 'Mommy-Tracked' Exec [WSJ via DI]

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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: