Goldman Sachs Considering Punishing Richard Kimball For His Prudence, Joie De Vivre

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Over a year ago, at the height of the campaign to Hate on Goldman Sachs, Lloyd Blankfein issued an edict to employees: "do not be seen living high on the hog." As a partner, Richard Kimball knew he had to set an example for the younger guys and girls and followed Blankfein's demands to a tee. When he threw “a series of” topless parties in the Hamptons, he did so in the privacy of his Southampton rental. When he enjoyed the company of some lady friends following his divorce from Pete Peterson's daughter Holly, he did so in the elevators of his building on Jane Street. And when he threw an alleged "naked-themed" Halloween party this October, we're told it went down at a "secret location" not disclosed to guests until 10PM that evening. Basically, he's showed the utmost of discretion, demonstrating to the rest of the firm how you show people a good time without making a spectacle. And yet.

According to the Post, Goldman has been considering de-partnering the Kimballer, a painful process that brings mental anguish and shame on the de-balled. Fingers crossed this is a vicious, baseless rumor, and that Lloyd and Co do the right thing.

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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: