Goldman Sachs VP explains why he quit

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  • Опубліковано 23 жов 2012
  • Greg Smith, who publicly resigned in scathing op-ed, says investment bank's unethical culture threatens firm's future. Anderson Cooper reports.

КОМЕНТАРІ • 1,3 тис.

  • @lesliecone6232
    @lesliecone6232 4 роки тому +590

    I would be proud to call this man my friend. It is nice to know there are still some people in the financial arena who can maintain an ethical backbone. Thank you Greg Smith for your integrity.

    • @dairysmoreta6108
      @dairysmoreta6108 4 роки тому +10

      Leslie 🤦🏻‍♂️

    • @prod.winterxphool6227
      @prod.winterxphool6227 4 роки тому +21

      He only walked away after making millions and scamming even though he knew very early what he was doing.

    • @SE-zl5he
      @SE-zl5he 4 роки тому +11

      @@prod.winterxphool6227 i doubt a VP makes millions

    • @joon769
      @joon769 3 роки тому

      I don't think he would call you likewise

    • @SE-zl5he
      @SE-zl5he 3 роки тому +2

      @George O'Carroll it's not high enough up the ladder. He was mid-level.

  • @rfimor
    @rfimor 8 років тому +885

    Basically he is saying that a Goldman salesman is no much different than any used car salesman. Not a big surprise to me.

    • @MaghoxFr
      @MaghoxFr 8 років тому +53

      +Temp User The responsibility that Goldman Sachs have is quite much higher, not to mention, that it's very clear they are a legal mafia.

    • @globaldigitaldirectsubsidi4493
      @globaldigitaldirectsubsidi4493 8 років тому +17

      +Temp User
      Then Goldman cars would imediately disappear after the transaction.

    • @Macdaddy.
      @Macdaddy. 8 років тому +26

      You can at least buy a warranty from a car used salesman

    • @Rays_Bad_Decisions
      @Rays_Bad_Decisions 5 років тому +12

      A lot worse then a used car salesman

    • @MrSupernova111
      @MrSupernova111 4 роки тому

      Surprise Surprise!

  • @fr1702
    @fr1702 6 років тому +199

    This guy has a good heart he’s really brave for speaking out like this

  • @warrenebuffett63
    @warrenebuffett63 6 років тому +668

    when you are not a psychopath and make it to the top

    • @umt6429
      @umt6429 5 років тому +90

      He's a vp. Not enough of a sociopath to become an md

    • @lisaproctor7276
      @lisaproctor7276 4 роки тому +2

      Lol

    • @beamertoy
      @beamertoy 4 роки тому +13

      Psychopaths trusting others to be psychopaths. That's why the goose is golden and it's made so no one shoots at it.

    • @dmars7264
      @dmars7264 4 роки тому

      @@beamertoy Great analogy!

    • @void7799
      @void7799 4 роки тому +12

      Pet your cats MD stands for managing director on wall street

  • @Jstoney127
    @Jstoney127 9 років тому +850

    Hire this man for the SEC

    • @richsan26
      @richsan26 8 років тому +42

      +Jstoney127 how can you believe that. the same SEC is corrupt

    • @juanio7036
      @juanio7036 6 років тому +28

      Jstoney127 if that happened he would have an unfortunate accident on his way to car.

    • @johannesandreasgribfibiger6677
      @johannesandreasgribfibiger6677 6 років тому +5

      The SEC .... haha because that's a completely independent body

    • @koendevriendt6120
      @koendevriendt6120 6 років тому +2

      they are not allowed to pay what he wants, i would think.

    • @StephenDoty84
      @StephenDoty84 5 років тому +7

      No one else would hire this weasel. He's the type to never tell you your faults and then one day pay to have a sky writer tell the world instead out of the blue. A snake.

  • @GrassValleyGreg
    @GrassValleyGreg 10 років тому +1945

    I love how Goldman Sachs has a UA-cam channel, but comments are disabled on every video lol

    • @tiffsaver
      @tiffsaver 10 років тому +83

      I noticed that, too. Same as with fanatical Islamic videos. Birds of a feather.

    • @zezuxeef
      @zezuxeef 9 років тому +39

      tiffsaver well the reason islamic videos are that way is because there are a very offensive people that will write some unethical comments in there.

    • @tiffsaver
      @tiffsaver 9 років тому +53

      zezuxeef You mean, Islamic links like these, by actual Islamic sheiks, imams, and Muslim scholars??
      Islam: how to Beat Your Wife
      Taliban Muslims chops off nose, ears of 19-year-old Bibi Aisha for "shaming" her in-laws
      IRAN EXECUTES GAYS (VIEWER DISCRETION IS ADVISED)
      Ruling on french kissing the wife while fasting
      www.islam-watch.org/authors/138-jake-neuman/1019-muhammad-existed-or-not-allah-is-certainly-a-fraudulent-creation.html
      www.answering-islam.org/Authors/Wood/pedophile.htm
      Burka
      Why do Muslims eat Halal - Unbelievable
      Why women should not convert to Islam - Ex-Muslim Woman.
      Ann Barnhardt - Female Genital Mutilation in Islamic culture (WARNING: GRAPHIC NSFW) (7 of 13)
      Dolls for little girls
      RE : Innocence of Muslims Full Movie - Prophet Mohammed Biography
      must see ! HOW MOST MUSLIMS TREAT A WOMAN
      Kurdish girl stoned to death because she falls in love with a sunni muslim
      The Prophet of Atrocity - Baby Brainwash
      unsettledchristianity.com/2008/12/textual-criticism-and-the-quran-muhammad-was-a-fraud/
      www.muhammadanism.org/Muhammad/Ripped_Apart.htm
      wikiislam.net/wiki/List_of_Killings_Ordered_or_Supported_by_Muhammad
      IRAN EXECUTES GAYS (VIEWER DISCRETION IS ADVISED)
      Malala Yousafzai, 16, and Her Miraculous Story of Surviving Being Shot by the Taliban
      www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=3&ved=0CEAQFjAC&url=http%3A%2F%2Fwww.answeringmuslims.com%2F2013%2F10%2Fwas-muhammad-pedophile.html&ei=-FkqU9GjIOfD0AHZsYH4Ag&usg=AFQjCNFxu2avR8q2dh2AfJLL47b2T2oO3g&sig2=iNFwSp4oW6wmg7f7VgLFPg&bvm=bv.62922401,d.dmQ

    • @zezuxeef
      @zezuxeef 9 років тому +37

      tiffsaver if this is how you view islam, then you have been misguided by an evil act, islam is peace and submission.

    • @santasa8888
      @santasa8888 9 років тому +32

      tiffsaver
      OK, we get it - you are moron Islamophobe and thats cool, but your comment is misplaced.

  • @joycekoch5746
    @joycekoch5746 4 роки тому +40

    HR at Goldman Sachs was probably digging furiously through Greg's record to find a way to discredit him.

  • @ravenkama6922
    @ravenkama6922 8 років тому +439

    Love people like this! You can just see his genuine heart and soul all there.

    • @NYorkin
      @NYorkin 7 років тому +7

      he is like snowden in institutional asset management lol - and he did not come 1 moment too early!!!!!!!

    • @sonykroket
      @sonykroket 6 років тому +12

      Women shouldn't be allowed to vote, all they care about is "mah feels"

    • @KwameSenecaLP
      @KwameSenecaLP 6 років тому

      People like that are known as weaklings in England. He went to Wall Street but thought he was going to 7/11...smh

    • @patrickt873
      @patrickt873 5 років тому +1

      Haha...really?.

    • @srinidi679
      @srinidi679 5 років тому +1

      True . You are a good soul.

  • @TheSapphire51
    @TheSapphire51 7 років тому +756

    Gosh an honest man with a sense of ethics and integrity.Worth his weight in gold. A hero of our times

    • @JeffreyGillespie
      @JeffreyGillespie 6 років тому +45

      Interesting how those ethics kicked in only after he'd made a few million, despite having discovered unethical behavior, quote, "in (his) first week".

    • @canefan17
      @canefan17 5 років тому

      A hero? Haha ok

    • @nofool9621
      @nofool9621 5 років тому +9

      Of course it has to be a number of years before he realised what he's doing is ripping off people of their money and savings. Its hard to do that if you joined to make a good salary and at the top position. He has courage and honesty and reasoning capabilities to change and adapt to being a real teacher and guide for other people.. Hahaha I smoked too much!

    • @johnathangrey3463
      @johnathangrey3463 5 років тому +3

      And women still want the bad boy oh the irony.

    • @patrickt873
      @patrickt873 5 років тому +3

      You already believe him base on what?. Perhaps you already had a predisposition even before any evidence. Who is the muppet now

  • @nextari
    @nextari 5 років тому +122

    Great man, and Coop interviewed him like he was a criminal.

    • @SE-zl5he
      @SE-zl5he 4 роки тому +1

      what's great about him?

    • @nextari
      @nextari 4 роки тому +22

      @@SE-zl5he nevermind. I think if I explain you still won't understand.

    • @keysersoze5032
      @keysersoze5032 2 роки тому +1

      The dude wanted compensation and then became a whistleblower once he didn’t get the reward. He’s blowing smoke

    • @jacobnair6707
      @jacobnair6707 2 роки тому +7

      @@keysersoze5032 people like you are exactly the type of people goldman sachs scam

    • @fritzschnitzmueller3768
      @fritzschnitzmueller3768 2 роки тому

      Yeah that interviewer is terrible

  • @moviedude22
    @moviedude22 6 років тому +314

    Wall Street ethics is an oxymoron -- doesn't that sum it all up

  • @WildBassfly
    @WildBassfly 8 років тому +534

    STOP CUTTING HIM OFF MID SENTENCE
    WHATS THE POINT
    I JUST WANT TO LISTEN TO WHAT HE HAS TO SAY

    • @geoh7777
      @geoh7777 6 років тому +37

      Interviewers are more important than interviewees. Apparently.
      .

    • @niro56
      @niro56 5 років тому +30

      No, because Anderson is a bonafide tool.

    • @JKahil
      @JKahil 4 роки тому +6

      Anderson Blows.

    • @mwilliams82684
      @mwilliams82684 4 роки тому +3

      Cooper always does that crap. He needs to ask the question and shut up! Let people respond

    • @bakedutah8411
      @bakedutah8411 4 роки тому +7

      Most of the instances of “cutting him off” are editing cuts, not Cooper actually interrupting the guy.

  • @inthevault9603
    @inthevault9603 5 років тому +54

    There’s always a high price to pay for integrity and very few are willing to pay it. But the return to one’s sense of self respect and honesty far outweighs anything that might’ve been lost.

  • @ferdhinico.3402
    @ferdhinico.3402 7 років тому +69

    I worked in the brokerage and banking department at Merrill Lynch and have dealt with multimillion dollar clients who have called me and literally cried because the financial advisor steals all their money in a legal way and they can't get it back. I see the issue but I can't do anything about it....so sad

    • @beatricerights
      @beatricerights 2 роки тому

      wow

    • @appleman957dontcare5
      @appleman957dontcare5 Рік тому

      lol ok wana go tell the poor people now that the reason they no longer can have a house is because of people like you who lied about stock figures to "steal all their money" to get bigger and better bonus's

    • @vamostimow
      @vamostimow Рік тому

      how can that happen ?

    • @jatinshilen
      @jatinshilen 9 місяців тому

      ​@@divercamman3997it will cure a lot of things

  • @swathi6056
    @swathi6056 6 років тому +41

    He is a braveheart ! Why can't we have more people like him in this world!

  • @boeingdriver29
    @boeingdriver29 2 роки тому +59

    A friend of mine in Australia got a job at one of Australia’s big four banks. On his first day during an induction course he was told in no uncertain terms that “ we are not here to make money for our clients, we are here to make money for the bank”. This is the standard mantra throughout all the banking industry. They are predators.

    • @therewill1584
      @therewill1584 11 місяців тому +4

      the client is there to make money for themselves, the bank is there to make money for themselves. everyone looks to their own interest, there's nothing predatory about that.

    • @gtbsaraiva
      @gtbsaraiva 4 місяці тому

      ​@@therewill1584 but legal and ethical conducts must be followed. But in Real world that doesnt aleays happen and what people must do is to get financial education

  • @-Muhammad_Ali-
    @-Muhammad_Ali- 4 роки тому +26

    How could this seemingly intelligent guy seriously expect some honesty and integrity from a big financial firm?

  • @gowinidea
    @gowinidea 7 років тому +34

    Thumbup to Greg Smith for the heart of steel he has!

  • @MominNz
    @MominNz 5 років тому +25

    this guy is truly one honest misfit in GMSachs. Absolutely correct.

  • @bruceLEEtheOne
    @bruceLEEtheOne 4 роки тому +170

    Why is 75% of this interview Anderson cooper talking

    • @daves.9479
      @daves.9479 3 роки тому +6

      Because, imo, CNN has become a cult of Op-Ed personalities pretending to be journalists and self-promotion is encouraged and rewarded and interviews are edited, I'd guess, to favor the interviewer.

    • @adamsmith3413
      @adamsmith3413 3 роки тому

      Because it’s all about them. Goldman was a better firm before they were transformed by the partnership change in the 1980s. The firm was a bastion of ethics in the 1950-1970s and I really mean that.

    • @mark-ish
      @mark-ish 3 роки тому

      🤣 a cooper hater and a snow flake.

    • @pleasantturtle2799
      @pleasantturtle2799 3 роки тому

      @@mark-ish why would anyone hate a Vanderbilt family member who rose through the meritocracy to become the face of the national security news network

    • @mrczz6690
      @mrczz6690 3 роки тому

      Doesn't wanna hear it, blah

  • @OriginalCovfefe
    @OriginalCovfefe 3 роки тому +57

    He wasnt actually an executive, he was a “VP”, the title given to over 1/4 of Goldman Sach’s employee for senior level employees. Goldman gave that title to them because it sounded a lot better for clients that a “VP” was managing their assets instead of some senior level 30-year old.

    • @samnuebel
      @samnuebel Рік тому +9

      yeah in investment banking there is two titles above a vp, director and managing director which both are below c suite level

    • @NotGahruvey
      @NotGahruvey 7 місяців тому

      @@samnuebelwait so hes like a mid level worker? And his salary was 500k?

    • @RafaelCDet
      @RafaelCDet 6 місяців тому

      ​@@NotGahruvey not sure about Greg's specific division , but for investment bankers at Goldman the starting salary is about 140k, going up by another 100-150k every 3 or so years going from analyst -> associate -> vice president. After that comes Managing Director and at that point (about 12-15 years into your career) you're pocketing a couple millions every year, but to get there you basically have to be the best at your job and also work 80-100 hours a week for the first 6 years.

  • @murrayhart1
    @murrayhart1 8 років тому +11

    Good on you Greg for having the balls to expose these parasites.

  • @chuckmcmicheal4999
    @chuckmcmicheal4999 5 років тому +35

    Thank you Lord for making him someone to look up to and learn from. Be the light in the world

  • @AndreyBoyd
    @AndreyBoyd 9 років тому +268

    The golden recipe of investing business these days is: to take the most sophisticated products and try to sell them to the least sophisticated clients. Before it was called swindle now it is the quickest way to make money on Wall Street.

    • @outlawJosieFox
      @outlawJosieFox 6 років тому

      Andrey Boyd and Trump has recently ripped up Obama administration legislation that says a stock broker has to do what is best for his clients. Now they can legally dupe people.

    • @canefan17
      @canefan17 5 років тому +9

      Andrey Boyd I’d be hard-pressed to find an industry that doesn’t do this. If a company has a product to sell, they are going to do what they have to do to move it. Buyer beware.

    • @stevewoodson4635
      @stevewoodson4635 4 роки тому

      Code pineapple Express 58
      Code red onions 78
      Code mango 98
      Code watermelon 118

    • @alexanderleo6809
      @alexanderleo6809 4 роки тому

      And then get a bailout when you’re still holding so much crappy product you couldn’t sell to others who would’ve had to actually eat the losses, and then use the bail out money to pay big bonuses

  • @firefeethok_tui2355
    @firefeethok_tui2355 3 роки тому +30

    Hire him for SEC or become a lawyer for SEC! Or something similar. Glad to know there are people with integrity at the top. Even IF they leave. He is doing the right thing. Unfortunately people who do this are regarded, but then discarded. Its sad. PS anderson is jaded and it really shows in the interview.

  • @bluedog03301998
    @bluedog03301998 8 років тому +34

    One of Enron's stated corporate values..............integrity.

  • @JaySmith-rv4ro
    @JaySmith-rv4ro 5 років тому +93

    “Take the most sophisticated product and sell it to the least sophisticated client” sounds like Apple to me lol

  • @PiranhaJaw22
    @PiranhaJaw22 5 років тому +146

    my cousin made $80K bonus at GS, and left after two years. he was burnt out from 90 hours a week.

    • @freakinfrugal5268
      @freakinfrugal5268 4 роки тому +9

      That's not a life. Wealth is not all it's cracked up to be.

    • @yourmum997
      @yourmum997 4 роки тому +7

      PiranhaJaw22 He must have been in IBD or Merchant Banking. Sec Div (which is the division I and the person who resigned worked in) has better hours, generally in line with market hours, though pays less on the whole.

    • @yourmum997
      @yourmum997 4 роки тому +6

      Harry Smith Oh yeah ofc; I only spent about a year and a half there as an analyst myself. You’re also right about VPs moving; not many VPs become MDs anyway (esp at GS) so they tend to get frustrated and either move to another company or leave the industry.

    • @mtadams2009
      @mtadams2009 4 роки тому +33

      My wife worked for a large investment bank for ten years. She worked her way up to managing director, she made an insane amount of money. She worked at least 90 hours a week, traveled all over the world for them, thenthey fired her. They did her a favor as her job was slowly killing her and us. She is now is a consultant and works from home, works less than half the hours, walks the dog, never misses our kids games, takes care of herself. Wall Street is brutal.

    • @mtadams2009
      @mtadams2009 4 роки тому +2

      @Harry Smith She is an extremely hard worker who worked her way up, even though she was not trying to make MD. It was only sorta terrible before she made MD then her boss left and the ceiling fell.

  • @moviedude22
    @moviedude22 6 років тому +18

    I wish nothing for the best for Greg Smith.

  • @djml7ml797
    @djml7ml797 9 років тому +13

    's not always about the money. Respct man!

  • @ezrajuangarciacosio676
    @ezrajuangarciacosio676 5 років тому +5

    What a human! your awsome my man, you are an inspiration to guys like me

  • @user-xv4gu9eb2p
    @user-xv4gu9eb2p 4 роки тому +14

    Bankers are smart, but their greed exceeds their intelligence. Never invest a dime with them long term. They will crash and then get bailed out, nobody ends up in jail.

  • @audioplugrecords3686
    @audioplugrecords3686 2 роки тому +9

    This dude is a legend. Not alot of people will do this. Respect. One of these days people will have had enough of this garbage.

  • @theekiddunknown6069
    @theekiddunknown6069 4 роки тому +14

    The guy defending Sachs talks with 1 side of his lip up, that’s a person you can’t trust💯

  • @majwor3763
    @majwor3763 5 років тому +7

    Wow this video was enlightening. What a bunch of crooks. Hard to believe there still is a person who believes in ethics!

  • @freespiritedbeing
    @freespiritedbeing 3 роки тому +9

    Finance majors after listening to him say " you need a Phd in physics or engineering to understand these products" : 😒😒😒

  • @kanishkkashyap9283
    @kanishkkashyap9283 4 роки тому +48

    " He makes half a million dollars....a mid level job "
    😂😂😂
    No wonder clients are being riped off

    • @hadang7899
      @hadang7899 4 роки тому +2

      Half a million dollars a year and live in Manhattan is like 50k in countryside.

    • @thiagogregory1
      @thiagogregory1 3 роки тому +19

      @@hadang7899 no

    • @gabrielmondragon6308
      @gabrielmondragon6308 3 роки тому

      500k in Newyork is nothing

    • @cocainaforall4636
      @cocainaforall4636 3 роки тому

      @@gabrielmondragon6308
      You’re not from New York.

    • @gabrielmondragon6308
      @gabrielmondragon6308 3 роки тому

      @@cocainaforall4636 have you been to NY or are you from Miami?

  • @nobertstanel9428
    @nobertstanel9428 5 років тому +7

    ,,Choose people by theyr values" - W.B
    Thumbs up for him

  • @frans-hugosmit396
    @frans-hugosmit396 3 роки тому +5

    So super proud of this fellow South African!

  • @commonsense8334
    @commonsense8334 4 роки тому +8

    The day will come for these financial institutions to pay the piper.

  • @hilarygomez7027
    @hilarygomez7027 4 роки тому +16

    I love how Anderson Cooper said “it’s like fight club?” so excitedly

  • @thehookgodz
    @thehookgodz 5 років тому +55

    im too broke to watch this

    • @philipgates988
      @philipgates988 4 роки тому +1

      The HookGodz Me too!!!

    • @freethinker3083
      @freethinker3083 4 роки тому +5

      Never too broke to learn

    • @rbkfan200
      @rbkfan200 4 роки тому +2

      You’re broke, not poor. Broke is something you can change.

    • @toastytoastgod
      @toastytoastgod 3 роки тому

      @@rbkfan200 so is poor

    • @eileenahern-ku9nx
      @eileenahern-ku9nx Місяць тому

      I love your honesty and comment - your brilliant ❤

  • @jl3268
    @jl3268 6 місяців тому +2

    This intelligent man with a pure heart knew what was coming and he was right. I bet today he is doing something that is a service to others rather than service to self.
    ❤Bless him and his family.❤

  • @cetti4405
    @cetti4405 7 років тому +16

    stealing a pack of hotdogs to feed your family can get you 5 years behind bars - stealing millions of dollars from customers through deceitful banking deals gets your bank fined (no jail time for anyone, if caught), which amounts to nothing, and you a huge bonus...
    Wallstreet a place where thieves can commit crimes with impunity.

    • @markroberts4575
      @markroberts4575 7 років тому +1

      Sao Pooh :You got that right.spot on.

    • @MrShanester117
      @MrShanester117 5 років тому

      Sao Pooh
      Nobody has ever done 5 years for stealing hot dogs

  • @MagicalFlowers4u
    @MagicalFlowers4u 10 років тому +5

    God Bless people like him!

  • @yousaidwhaaaattt8631
    @yousaidwhaaaattt8631 8 років тому +67

    Good for him for having some balls. WTG Playa.

    • @thebestofallworlds187
      @thebestofallworlds187 4 роки тому

      the same people don't own the news media? just asking questions. could be put out for unknown motives.

  • @chrisboston
    @chrisboston Місяць тому +1

    I worked at Goldman Sachs 20 years ago and saw this back then, they claim to be full of “Integrity” and “Value” but the people at top are enriching themselves at the expense of most people

  • @Boutit031
    @Boutit031 4 роки тому +40

    Can't mistake that accent - South Africa or Rhodesia (Zimbabwe) 💪🏾🇿🇦

    • @kookokooko-xg5uo
      @kookokooko-xg5uo 4 роки тому

      How come all the successful people coming out of South Africa are white ?

    • @gabrielmondragon6308
      @gabrielmondragon6308 3 роки тому

      @@kookokooko-xg5uo breaking news, the faken sky is blue!

    • @kookokooko-xg5uo
      @kookokooko-xg5uo 3 роки тому

      @@gabrielmondragon6308 yes it is. But you're not answering WHY is the sky blue or why are all successful people coming out of a predominantly black country white?

  • @chuckjohnson3316
    @chuckjohnson3316 7 років тому +44

    great clip for my econs class

  • @hitmenext1182
    @hitmenext1182 9 років тому +18

    8:26 XD Goldman Sachs is like Fight club

  • @JonahEnglerNY
    @JonahEnglerNY 9 років тому +6

    Great vid thanks for posting.

  • @bikemibby2216
    @bikemibby2216 3 роки тому +11

    And thus wallstreetbets was formed

  • @yaya8270
    @yaya8270 6 років тому +20

    I like how they explicitly make the point to say that GS has not committed any fraud from a legal stand point.
    Stealing people's retirement funds with fees/financial instruments they cannot understand is not a punishable fraud.

    • @donaldrobinson214
      @donaldrobinson214 2 роки тому

      But it's still fraud and what comes around goes around, this world cannot make it when everyone is just out for themselves

  • @skoto8219
    @skoto8219 4 роки тому +16

    3:43 ahhh okay, south africa. i was thinking that was the weirdest australian accent i'd ever heard.

  • @dochmbi
    @dochmbi 8 років тому +7

    That description of Goldman Sachs ripping off its customers reminded me of The Wolf of Wall Street.

  • @leonjee4245
    @leonjee4245 5 років тому +8

    More like: "I'm leaving before we get caught for fraud and I go to jail."

  • @craiginzana
    @craiginzana 7 років тому +272

    I think it's worth noting that it's Anderson Cooper's job to play devil's advocate and make sure his story/point holds up.

    • @roflcopterszz
      @roflcopterszz 7 років тому +6

      right, that's his job. he's bad at his job :/

    • @tar6400
      @tar6400 7 років тому +23

      Fuck you Anderson Cooper is a walking piece of cooperate filth. Just because one pile of shit is smellier than the other, it doesn't make the first shit smell any better.

    • @chiffmonkey
      @chiffmonkey 6 років тому +9

      He never left the CIA, he's just undercover.

    • @zacharyhebert6423
      @zacharyhebert6423 6 років тому +6

      cia controls the media, among other parts of institutions. unless we focus on taking them down nothing will get better

    • @joshuaharrell554
      @joshuaharrell554 6 років тому +1

      zachary herbert that's what Twitter is for.

  • @mattysoup
    @mattysoup 5 років тому +30

    7:58 untrue. Goldman pushed a huge amount of subprime mortgage derivatives. They just didn't hold it on their own balance sheet. Doesn't mean they didn't contribute. How could he say such a thing?

    • @spanishmontana6121
      @spanishmontana6121 4 роки тому

      He got paid to say that

    • @Quantum3691
      @Quantum3691 4 роки тому +1

      That's a dumb question with obvious answers.

    • @dake6844
      @dake6844 4 роки тому

      Yeah, and that's why government bailed out GS. Noting to compare with Lehman, Bear Sterns and Countrywide, they all did well during financial crisis.

  • @TheLuminousOne
    @TheLuminousOne 5 років тому +2

    Lot of respect for this man.

  • @MegaNainaa
    @MegaNainaa 8 років тому +3

    It is so sad that these bank and investment companies get away ripping off people while a person who perhaps stole a piece of bread because he was hungry goes to prison, no injustice.

  • @JohnDoe-tw5og
    @JohnDoe-tw5og 8 років тому +76

    Criminals running the banking sector!

  • @CrappyApple001
    @CrappyApple001 10 років тому +172

    The Bible is misquoted by many as saying that money is the root of all evil. But it actually says "the LOVE of money is the root of all evils". When people value money more than anything ethical, it becomes a problem. I'm kinda glad I'm not wealthy by most peoples standards. The are very generous wealthy people, no doubt, but my guess is that they are in the minority. But in my mind, intentionally ripping someone off is equivalent to selling your soul. Read George Washington's farewell address to the nation. Its astounding. Just my two cents.

    • @buttbrowser
      @buttbrowser 6 років тому +1

      Interesting. & thanks for tip about George.

    • @chiffmonkey
      @chiffmonkey 6 років тому +8

      The bible also contradicts itself, so I don't really take it as a great source of information.

    • @RR-rx2lt
      @RR-rx2lt 6 років тому +1

      Like how george riped his slaves and native indians

    • @johna8541
      @johna8541 6 років тому +2

      Bobbo Morgan OK many of the others are either copying errors that doesn't change the meaning of the verse chapter or book. Others are misunderstanding of by you some mistranlations and some by a simplistic understanding due to reading out of context. Why would you take these examples at face value without understanding the translation or the verse in context? It's like when atheist say I don't believe in an old man living in the sky who sent himself to earth so he can be killed for the sin of another man. Well most don't believe this either. It's wrong theologically.

    • @NickLiang
      @NickLiang 6 років тому +1

      God never created currency or money, it is a human endeavour. Why would anything about money be in the Bible.

  • @filmerd
    @filmerd 4 роки тому +2

    Great hit piece. I hope you guys spend that Goldman money well!!!!

  • @dansnyder8589
    @dansnyder8589 4 роки тому +1

    500k is a mid-level salary...? Just goes to show you how much they suck out of people who deal with them.

  • @buncha1499
    @buncha1499 8 років тому +5

    Really admirable that he did this. I wonder if he's endorsing Sanders?

  • @mr.rochester1857
    @mr.rochester1857 3 роки тому +5

    Goldman Sachs: “we did a self audit and found a tax rebate”

  • @pixelmartyr8532
    @pixelmartyr8532 4 роки тому +6

    Investments are crap. Banks sell a bill of goods and call it an investment.

  • @tommathew7684
    @tommathew7684 4 роки тому +8

    Goldman Sachs will never fail. It's largest client is Philip Morris, representing over 13% of gross and nearly 60% of pretax income. They wouldn't hire me because I went to New York University. So I bankrupted them. Today they hire from NYU, not because of me but because students from Harvard do not want to work for them anymore.

  • @ef9984
    @ef9984 6 років тому +21

    The interviewer works for Goldman

  • @Wastelander1972
    @Wastelander1972 5 років тому +3

    As he described it, it sounds to me like some of Goldman Sachs is guilty of Front-Running.

    • @stevewoodson4635
      @stevewoodson4635 4 роки тому

      Yes true and the rest of right now we could meet at making sure that truth is that way galaxy kryptonite

  • @hossahunter22
    @hossahunter22 4 роки тому +9

    If you buy something without checking the price somewhere else, that's on the buyer. Always shop around. But yeah, banking sucks

  • @WaveGodx1
    @WaveGodx1 4 роки тому +8

    The Vice President of a huge bank only made half a million a year? Yea I’d leave too.

    • @tannerdpm
      @tannerdpm 4 роки тому +6

      Banks, esp. that size, hand out the VP title like candy. Goldman itself has over 10,000 VP positions. It's a fairly junior-level title.

    • @asimsohail1828
      @asimsohail1828 4 роки тому +5

      "VP" at investment banks is not a VP at any other company. There are over 12,000 "vice presdients" working at goldman. The VP you'd think about is the C suite officers that get paid over $10 million at goldman sachs

  • @shari777smith2
    @shari777smith2 8 років тому +3

    and now we know exactly why HRC won't release the 'transcripts.'

  • @thisguycanskate
    @thisguycanskate 4 роки тому +89

    This man kind of looks like Jeff Bezos

    • @raby8881
      @raby8881 4 роки тому +1

      Dylan OSoGood but younger

    • @jerkchickenblog
      @jerkchickenblog 4 роки тому +1

      this man is a decent person, bezos is satan on earth

    • @darkmatters9042
      @darkmatters9042 4 роки тому +3

      Just be coz he’s bald 👨‍🦲 he does not look like Be zoos

    • @mariogamefreak1
      @mariogamefreak1 4 роки тому

      Dylan OSoGood he like Bezos nicer twin brother

    • @marcusmay5461
      @marcusmay5461 4 роки тому

      With two working eyes

  • @JohnVKaravitis
    @JohnVKaravitis Місяць тому

    "Goldman Sachs." That's all I needed to hear. The comedy writes itself.

  • @issemxfi
    @issemxfi 3 роки тому +5

    When has any bank or financial institution been ethical? Or had any integrity?

  • @missska9206
    @missska9206 7 років тому +9

    11:47 the fact that Greg is a disgruntled employee does not invalidate his testimony, especially that the practices he admitted to, were widely known and discussed before he came out. Frankly - the fact alone, that his book and testimony is that widely publicised signifies that GS came out of favour and needed bringing to heel (something like DSK affair).

  • @gamingrewind6099
    @gamingrewind6099 5 років тому +44

    "no evidence of wrongdoing" LOL

  • @avzeolla3960
    @avzeolla3960 2 роки тому +2

    He’s a guy with a high IQ AND A CONSCIENCE. 👍

  • @CheeseMan1391
    @CheeseMan1391 9 років тому +6

    I think Frank P. didn't understand the Fight Club reference

  • @dora7131
    @dora7131 6 років тому +3

    Bravo, Bravo!!

  • @giggs112008
    @giggs112008 6 років тому +14

    Moral of the story...there is NO such thing as honesty, loyalty, or integrity when other people are dealing with YOUR own money/assets and especially massive corporations/financial institutions.

    • @donaldrobinson214
      @donaldrobinson214 2 роки тому +1

      Corporate America has no reason no desire or want to be honest, it is an entity in itself that only believes in greed not America

  • @apope06
    @apope06 4 роки тому +3

    It took him years to realize they are corrupt? I dont by it! It got rich then ditched.

  • @wafaaahmed9939
    @wafaaahmed9939 7 років тому +1

    OMG .realy ? I can't believe that !

  • @Trending.News.in.India.
    @Trending.News.in.India. 5 років тому +4

    this guys looking very hardworking. His eyes tells me.'

  • @DavidNovaa
    @DavidNovaa 3 роки тому +3

    Hes basically saying he's tired of watching Goldman rip his clients off

  • @christophertaylor3150
    @christophertaylor3150 4 роки тому

    Very courageous yo speak Up about what is wrong when that is unpopular

  • @dominique2693
    @dominique2693 3 роки тому +1

    This has the ring of truth

  • @Jeanne90275
    @Jeanne90275 11 років тому +6

    Vulture culture...targeting pension funds & philanthropies. Ethical
    Wall Street is an oxymoron. Half a million dollars at 33 isn't doing
    too badly...he probably wasn't willing to work on the shady derivatives.

    • @stevewoodson4635
      @stevewoodson4635 4 роки тому +1

      Lucky buzzard Billy's the update on your phone

  • @almamatermit2529
    @almamatermit2529 6 років тому +11

    I used to work on Wall Street.
    I graduated from MIT with a economics degree. I was recruited. After 15 years, I left due to health reasons.

    • @BeanyOwns
      @BeanyOwns 5 років тому +3

      Sure ok because if you did you would feel the need to tell everyone in a UA-cam comment?

    • @vincem2759
      @vincem2759 3 роки тому +1

      @@BeanyOwns I mean working on wallstreet isn't that grand lol Plenty of people work and leave.

  • @nattaphonj956
    @nattaphonj956 3 роки тому

    Respect, brave. You're doing the right thing.

  • @songman1955
    @songman1955 Рік тому +1

    I have made money by doing the opposite of what Goldman tells retail investors

  • @WOLFMAN305
    @WOLFMAN305 6 років тому +41

    7:30 I'm lmao at how they said they'll read his book first then they'll comment. Obviously it's only so they can prepare to negate everything he's saying. Damn, they really are savages.

    • @Bboydu78000
      @Bboydu78000 6 років тому +5

      Investing what people are accusing them of before defending themselves, now that is some real strategy, i understand why those guys come from top schools

    • @chuckmcmicheal4999
      @chuckmcmicheal4999 5 років тому +4

      Yeah, if they were so honest they wouldnt sweat a book.

    • @iancoker1987
      @iancoker1987 4 роки тому

      they wanted to know just how much they would have to reveal and spin the narrative to avoid other issues. They likely have multiple moral shortcomings on larger scales that he was unaware of.

  • @loboalamo
    @loboalamo 9 років тому +46

    He is alive. That is saying a lot. If he would have given notice, he would have been in the hands of assassins. Maybe its not over for him or his family. May he and his be protected, by our Creator and His everloving angels.

    • @Maximillian693
      @Maximillian693 9 років тому +13

      exactly my thoughts. may he stay safe and alive. brave man.

  • @northwoodsguy
    @northwoodsguy 4 роки тому +1

    It is good to know there are good people, too bad they leave where they could do the most good.

  • @briwull999
    @briwull999 3 роки тому +1

    523 investment bankers didn't like this article.

  • @anandpatnaik5039
    @anandpatnaik5039 4 роки тому +5

    he sounds very emotional

  • @kaunas88
    @kaunas88 7 років тому +69

    Only the most naive would consider Goldman Sachs to be "trustworthy". What a laugh! They helped Greece cook the books to get into the European Union. How can institutional investors be this ignorant and trusting. Remember: be skeptical of experts.

    • @habibbialikafe339
      @habibbialikafe339 5 років тому +4

      be skeptical of everyone, but cynical of no one. find reasoning in people's actions and act accordingly

    • @georgem.2437
      @georgem.2437 4 роки тому +2

      They get the job they got hired to do done. That creates track record, trust. Now regarding the Greek matter.... Name 1 country that didnt "window dressed" their books to create fiscal eligibility required for the Euro-zone. Deutschebank already got bailed out 3x. 1 via the irish bail-in, 2 by Greek PSI, 3 from a direct bail out from the german tax payers in 2006. P.s. i am geeek by the way 😎

    • @stevewoodson4635
      @stevewoodson4635 4 роки тому

      Loaded dice
      Twin headquarters coins
      Mark. Cardstock
      Jumbled roulette wheel
      Flexibility slots machine arms
      Bumfuzzle bamboo baccarat table
      Computer hack into the update system

    • @ashleyhartley1177
      @ashleyhartley1177 3 роки тому

      @@stevewoodson4635lol casino is rigged

    • @xander1201
      @xander1201 Рік тому

      You mean eurozone not the eu

  • @Vanessa-ex5cb
    @Vanessa-ex5cb 5 місяців тому

    Iam really happy to see that Greg Smith has not sold his soul, the other ones are soulless and deep in the mud..if you know what i mean!!!

  • @bethbartlett5692
    @bethbartlett5692 4 роки тому

    I understand by his from a Consumer Position, with Wells Fargo -
    Not much in options now.