Former Goldman Sachs employee Greg Smith, author of “Why I left Goldman Sachs: A Wall Street Story,” gives “Viewpoint” host Eliot Spitzer an insider’s perspective on the company culture at Goldman.
“Goldman is still teaching its new analysts, ‘Our clients’ interests always come first, we need to have integrity,’” Smith says. “But the truth is a blind eye is being turned to the practices of betting against clients, ripping off teachers’ pension funds.”
“On Wall Street today, there is a profit-at-all-costs mentality,” Smith explains. “I think people know the game could end any day, and it’s really an extraction of as much wealth as you can while the going’s still good.”