A Daily news digest by Jasper van Santen

Goldman Sachs in hunt for ‘muppet’ email – Telegraph

In News, Nonsense on March 23, 2012 at 10:11

The Muppets film 'brainwashing children against rich'

Photo: VALERIE MACON/AFP/Getty Images

Goldman Sachs in hunt for ‘muppet’ email 

Greg Smith, who sold European equity derivatives for the bank in London, last week used the New York Times newspaper to publish a resignation letter in which he alleged he had seen managing directors refer to clients as “muppets” five times on internal email. The letter, which was published on the newspaper’s opinion pages, also branded the bank’s culture as “toxic”.

Lloyd Blankfein, Goldman’s chief executive, and Gary Cohn, Goldman’s president, rejected the characterisation of the bank in a memo to Goldman’s 30,000 staff last week, adding that when employees make complaints “we examine them carefully and we will be doing so in this case.” The review of internal emails was disclosed to the bank’s partners in a conference call this week.


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