Andy Borowitz provides the one retort to Greg Smith that only free taxpayer money and trillions in bailouts can buy. In other news, we fully expect Mr. Smith to enact a voluntary refund of the 12 years worth of compensation and bonuses earned while working at Goldman any minute now. Or maybe epiphanies on Goldman "culture" following more than a decade of employment comes without compensation clawbacks?
NEW YORK (The Borowitz Report) – The following letter to Goldman Sachs’ worldwide clients was issued today by Goldman Sachs CEO Lloyd Blankfein:
Dear Goldman Client:
By now, many of you have probably read the regrettable resignation letter published in today’s New York Times by former Goldman executive Greg Smith, explaining why he is leaving the firm after twelve years.
In the letter, in which he excoriates Goldman and his practices, Mr. Smith comes across as a man of conscience, ideals, and high moral standards. And as you read his words, you no doubt asked yourself this troubling question: how could Goldman have hired such a person?
At Goldman, we pride ourselves on our ability to scour the world’s universities and business schools for the finest sociopaths money will buy. Once in our internship program, these youths are subjected to rigorous evaluations to root out even the slightest evidence of a soul. But, as the case of Mr. Smith shows, even the most time-tested system for detecting shreds of humanity can blow a gasket now and then. For that, we can only offer you our deepest apology and the reassurance that one good apple won’t spoil the whole bunch.
As to those of you who were serviced by Mr. Smith, it’s understandable that you would be concerned about who will be taking his place going forward. On that front, I have some exciting news: today, Goldman is pleased to announce that our new executive director and head of the United States equity derivatives business in Europe, the Middle East and Africa will be Mr. Joseph Kony. For those unfamiliar with Mr. Kony’s resume, let me assure you that he has the character and moral standards you have come to expect from Goldman, and like the rest of us here at the bank, he has dedicated his life to doing the Lord’s work.
CEO, Goldman Sachs