s*********8
发帖数: 901 | 1 Top executive accused Goldman SB "ripping off" clients.
Goldman Sachs Group Inc. (GS) saw $2.15 billion of its market value wiped
out after an employee assailed Chief Executive Officer Lloyd C. Blankfein's
management and the firm's treatment of clients, sparking debate across Wall
Street.
The shares dropped 3.4 percent in New York trading yesterday, the third-
biggest decline in the 81-company Standard & Poor's 500 Financials Index,
after London-based Greg Smith made the accusations in a New York Times op-ed
piece.
Smith, who also wrote that he was quitting after 12 years at the company,
blamed Blankfein, 57, and President Gary D. Cohn, 51, for a "decline in the
firm's moral fiber." They responded in a memo to current and former
employees, saying that Smith's assertions don't reflect the firm's values,
culture or "how the vast majority of people at Goldman Sachs think about the
firm and the work it does on behalf of our clients."
Former Federal Reserve Chairman Paul Volcker, 84, whose "Volcker rule" would
limit banks like New York-based Goldman Sachs from making bets with their
own money, called Smith's article "a radical, strong" piece. "I'm afraid it'
s a business that leads to a lot of conflicts of interest," Volcker said at
a conference in Washington sponsored by the Atlantic.
Goldman Sachs slid $4.17 to $120.37 yesterday, leaving the shares still up
33 percent this year. The stock advanced 0.7 percent to $121.20 by 11:16 a.m
. in Germany today.
David Wells, a spokesman for Goldman Sachs in New York, declined to comment
beyond the contents of the memo and an earlier e-mailed statement in which
the firm said it disagrees with the views expressed in the op-ed. |
|
