Description:  Some day, when they write the definitive history ofGoldman Sachs (GS), Wall Street’s 143-year-old warehouser of brass rings, the date March 14, 2012, will stand in infamy. If you haven’t already heard, that’s when Greg Smith, an executive with the bank in London, resigned with guns a-blazing, in a corporate revenge fantasy worthy of a sequel to Office Space. The 12-year veteran—he started as a summer intern during college—penned an op-ed in the New York Times that wasted zero time to cut to the damning chase:

Source: Businessweek.com

Date: 03/14/2012

Link:  http://www.businessweek.com/articles/2012-03-14/goodbye-to-goldman-will-blankfein-be-next

Questions for discussion:

• Summarize the criticisms made by Greg Smith.
• How has this report evaluated the impact on the firm?
• What are the managerial implications for Goldman?