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Is there an exodus at Goldman Sachs?
For several weeks now I have been reading articles similar to the two I have linked below. They all talked about high level Goldman employees leaving Goldman and taking employment at other companies as well as at some foreign government agencies.
I thought very little of these reports until they became numerous and I began thinking, what is going on?
Not until I read the report by Charlie Gasparino of Fox Business - which I posted this past Thursday in Larry's Corner - where he said, “The mood is horrendous among employees.” that it made me begin to wonder, what is going on at the great GS.
If the mood, as Charlie says, is "horrendous" then it is no wonder that there is an exodus from the all powerful Goldman Sachs. Could it be that perhaps the lure of big money is no longer there and therefore there is no reason for many GS employees to continue to work for a company they probably know is truly a "vampire squid".
I often wondered how so many could live with themselves working for a company that so obviously operated with no moral conviction and no regard for humanity. I always believed that these people "had a price" at which they could be bought and manipulated.
It has always been the belief that working for Goldman was the ultimate in positions on Wall Street. People were trained and brainwashed once accepted into the fold. Their entire existence revolved around "the company" doing and saying whatever they were instructed to in order to reach the ultimate goal of "super profiteering" at all costs and with little regard for the consequences.
Now it appears, as I have seen over many months that with the restraints placed on Goldman due in part to the publicity and in more part due to the admissions (or lack thereof) at the many Congressional hearings, that the "gravy train" has reached the end of the line and there seems to be no good reason to compromise one's self. The outrageous pay scales are gone, the creative financial products no longer available and the manipulated gambling that created sure bets are all gone.
If, indeed, the mood amongst GS employees is - horrendous - then it is no wonder that there is an exodus of these once "loyal", "overpaid" employees.
Since I did not bother to archive many of the announcements of GS employees leaving for other positions, I will attempt to do the research and find them to publish here.
I do believe this is something we should now pay attention to. The glitter of Goldman may be fading if not ending.
I have the feeling that there is trouble brewing at Goldman. Merideth Whitney seems to see a decline in their earnings, Goldman themselves have made public that their earnings will be hurt due to the law suits and bad publicity they have received. Now, high level employees are leaving.
I will keep an eye on this as this could be the beginning of the end of an era and empire. Justice comes in many shapes and forms. While we may never see legal justice served, a collapse may serve the public just as well.
Stay tuned, our mission is still on going.
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