Perhaps we should be grateful to Goldman Sachs. It is so brazen in its greed and ruthlessness that it exposes the ugly face of capitalism far more crudely than its detractors ever could. Now we have the resignation letter of one of its executive directors, Greg Smith, to confirm from the inside what Goldman is really like. His main charge could hardly be more damning, that Blankfein the chief executive and Cohn the president had “lost hold of the firm’s culture on their watch”. Continue reading →