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.
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.
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
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!
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
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
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.
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.
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.
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.
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.
@@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
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.
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.
@@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.
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.
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.
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.
@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.
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.
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.
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.
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
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.
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.
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.❤
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.
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?
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.
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.
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
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.
@@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?
"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
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.
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).
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.
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.
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.
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 😎
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.
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
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.
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.
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.
Well, as Warran Buffet always preaches, hedge funds consistently underperform the market. Instead of paying for "experts" for your investments, it's much more profitable to just buy the S&P ETF and sit and do nothing for 10, 20 years.
Didn't Warren Buffett own a lot of shares of Goldman Sachs in his Berkshire Hathaway stock portfolio? Why did Charlie Munger and Warren Buffett purchase so much Goldman Sachs stock?
Successful people don't become that way overnight. What most people see at a glance-wealth, a great career, purpose is the result of hard work and hustle over time. I pray that anyone reading this will be successful in life.
People come here with the aim of chasing money more than knowledge and that will damage your progress trust me. chase knowledge first and i promise the money will follow you.
Because finance is an important part of the economy. Personally, I'm convinced that finance doesn't have to be toxic. It's a shame that it always seems to be tho
401k plans always had hidden fees that's why when you look at the fund return says 20% return when you add up your actual gains the math doesn't add up. Thats why personal return % are usually not available for 401k plans are for IRA's where you trade your own stocks, mutual funds, or ETF's.
![[TH] 2024 PMSL SEA W1D5 | Summer | เก็บคะแนนสู่รอบไฟนอล สัปดาห์แรก](http://i.ytimg.com/vi/jSlV6eB1f9k/mqdefault.jpg)
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.
Leslie 🤦🏻♂️
He only walked away after making millions and scamming even though he knew very early what he was doing.
@@prod.winterxphool6227 i doubt a VP makes millions
I don't think he would call you likewise
@George O'Carroll it's not high enough up the ladder. He was mid-level.
Basically he is saying that a Goldman salesman is no much different than any used car salesman. Not a big surprise to me.
+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.
+Temp User
Then Goldman cars would imediately disappear after the transaction.
You can at least buy a warranty from a car used salesman
A lot worse then a used car salesman
Surprise Surprise!
STOP CUTTING HIM OFF MID SENTENCE
WHATS THE POINT
I JUST WANT TO LISTEN TO WHAT HE HAS TO SAY
Interviewers are more important than interviewees. Apparently.
.
No, because Anderson is a bonafide tool.
Anderson Blows.
Cooper always does that crap. He needs to ask the question and shut up! Let people respond
Most of the instances of “cutting him off” are editing cuts, not Cooper actually interrupting the guy.
Wall Street ethics is an oxymoron -- doesn't that sum it all up
This guy has a good heart he’s really brave for speaking out like this
Great man, and Coop interviewed him like he was a criminal.
what's great about him?
@@SE-zl5he nevermind. I think if I explain you still won't understand.
The dude wanted compensation and then became a whistleblower once he didn’t get the reward. He’s blowing smoke
@@keysersoze5032 people like you are exactly the type of people goldman sachs scam
Yeah that interviewer is terrible
HR at Goldman Sachs was probably digging furiously through Greg's record to find a way to discredit him.
Hire this man for the SEC
+Jstoney127 how can you believe that. the same SEC is corrupt
Jstoney127 if that happened he would have an unfortunate accident on his way to car.
The SEC .... haha because that's a completely independent body
they are not allowed to pay what he wants, i would think.
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.
I love how Goldman Sachs has a TH-cam channel, but comments are disabled on every video lol
I noticed that, too. Same as with fanatical Islamic videos. Birds of a feather.
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.
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
tiffsaver if this is how you view islam, then you have been misguided by an evil act, islam is peace and submission.
tiffsaver
OK, we get it - you are moron Islamophobe and thats cool, but your comment is misplaced.
when you are not a psychopath and make it to the top
He's a vp. Not enough of a sociopath to become an md
Lol
Psychopaths trusting others to be psychopaths. That's why the goose is golden and it's made so no one shoots at it.
@@beamertoy Great analogy!
Pet your cats MD stands for managing director on wall street
Love people like this! You can just see his genuine heart and soul all there.
he is like snowden in institutional asset management lol - and he did not come 1 moment too early!!!!!!!
Women shouldn't be allowed to vote, all they care about is "mah feels"
People like that are known as weaklings in England. He went to Wall Street but thought he was going to 7/11...smh
Haha...really?.
True . You are a good soul.
Gosh an honest man with a sense of ethics and integrity.Worth his weight in gold. A hero of our times
Interesting how those ethics kicked in only after he'd made a few million, despite having discovered unethical behavior, quote, "in (his) first week".
A hero? Haha ok
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!
And women still want the bad boy oh the irony.
You already believe him base on what?. Perhaps you already had a predisposition even before any evidence. Who is the muppet now
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
wow
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
how can that happen ?
@@divercamman3997it will cure a lot of things
Why is 75% of this interview Anderson cooper talking
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.
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.
🤣 a cooper hater and a snow flake.
@@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
Doesn't wanna hear it, blah
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.
He is a braveheart ! Why can't we have more people like him in this world!
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.
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.
@@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
Thumbup to Greg Smith for the heart of steel he has!
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.
this guy is truly one honest misfit in GMSachs. Absolutely correct.
How could this seemingly intelligent guy seriously expect some honesty and integrity from a big financial firm?
Good on you Greg for having the balls to expose these parasites.
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.
yeah in investment banking there is two titles above a vp, director and managing director which both are below c suite level
@@samnuebelwait so hes like a mid level worker? And his salary was 500k?
@@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.
my cousin made $80K bonus at GS, and left after two years. he was burnt out from 90 hours a week.
That's not a life. Wealth is not all it's cracked up to be.
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.
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.
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.
@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.
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.
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.
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.
Code pineapple Express 58
Code red onions 78
Code mango 98
Code watermelon 118
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
One of Enron's stated corporate values..............integrity.
Thank you Lord for making him someone to look up to and learn from. Be the light in the world
“Take the most sophisticated product and sell it to the least sophisticated client” sounds like Apple to me lol
🤣🤣🤣
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.
's not always about the money. Respct man!
The guy defending Sachs talks with 1 side of his lip up, that’s a person you can’t trust💯
I wish nothing for the best for Greg Smith.
What a human! your awsome my man, you are an inspiration to guys like me
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.
Sao Pooh :You got that right.spot on.
Sao Pooh
Nobody has ever done 5 years for stealing hot dogs
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.
Wow this video was enlightening. What a bunch of crooks. Hard to believe there still is a person who believes in ethics!
" He makes half a million dollars....a mid level job "
😂😂😂
No wonder clients are being riped off
Half a million dollars a year and live in Manhattan is like 50k in countryside.
@@hadang7899 no
500k in Newyork is nothing
@@gabrielmondragon6308
You’re not from New York.
@@cocainaforall4636 have you been to NY or are you from Miami?
The day will come for these financial institutions to pay the piper.
im too broke to watch this
The HookGodz Me too!!!
Never too broke to learn
You’re broke, not poor. Broke is something you can change.
@@rbkfan200 so is poor
I love your honesty and comment - your brilliant ❤
Finance majors after listening to him say " you need a Phd in physics or engineering to understand these products" : 😒😒😒
,,Choose people by theyr values" - W.B
Thumbs up for him
I love how Anderson Cooper said “it’s like fight club?” so excitedly
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.❤
So super proud of this fellow South African!
3:43 ahhh okay, south africa. i was thinking that was the weirdest australian accent i'd ever heard.
Good for him for having some balls. WTG Playa.
the same people don't own the news media? just asking questions. could be put out for unknown motives.
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.
right, that's his job. he's bad at his job :/
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.
He never left the CIA, he's just undercover.
cia controls the media, among other parts of institutions. unless we focus on taking them down nothing will get better
zachary herbert that's what Twitter is for.
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?
He got paid to say that
That's a dumb question with obvious answers.
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.
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.
Interesting. & thanks for tip about George.
The bible also contradicts itself, so I don't really take it as a great source of information.
Like how george riped his slaves and native indians
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.
God never created currency or money, it is a human endeavour. Why would anything about money be in the Bible.
And thus wallstreetbets was formed
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
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.
But it's still fraud and what comes around goes around, this world cannot make it when everyone is just out for themselves
God Bless people like him!
More like: "I'm leaving before we get caught for fraud and I go to jail."
Literally
What's wrong with that ?
I can also start my own slightly more ethical firm.
great clip for my econs class
Criminals running the banking sector!
Can't mistake that accent - South Africa or Rhodesia (Zimbabwe) 💪🏾🇿🇦
How come all the successful people coming out of South Africa are white ?
@@kookokooko-xg5uo breaking news, the faken sky is blue!
@@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?
That description of Goldman Sachs ripping off its customers reminded me of The Wolf of Wall Street.
Goldman Sachs: “we did a self audit and found a tax rebate”
"Goldman Sachs." That's all I needed to hear. The comedy writes itself.
8:26 XD Goldman Sachs is like Fight club
This man kind of looks like Jeff Bezos
Dylan OSoGood but younger
this man is a decent person, bezos is satan on earth
Just be coz he’s bald 👨🦲 he does not look like Be zoos
Dylan OSoGood he like Bezos nicer twin brother
With two working eyes
The Vice President of a huge bank only made half a million a year? Yea I’d leave too.
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.
"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
"no evidence of wrongdoing" LOL
If you buy something without checking the price somewhere else, that's on the buyer. Always shop around. But yeah, banking sucks
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.
I think Frank P. didn't understand the Fight Club reference
500k is a mid-level salary...? Just goes to show you how much they suck out of people who deal with them.
As he described it, it sounds to me like some of Goldman Sachs is guilty of Front-Running.
Yes true and the rest of right now we could meet at making sure that truth is that way galaxy kryptonite
Investments are crap. Banks sell a bill of goods and call it an investment.
Bravo, Bravo!!
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).
When has any bank or financial institution been ethical? Or had any integrity?
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.
OMG .realy ? I can't believe that !
and now we know exactly why HRC won't release the 'transcripts.'
Really admirable that he did this. I wonder if he's endorsing Sanders?
Great vid thanks for posting.
Great hit piece. I hope you guys spend that Goldman money well!!!!
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.
Lucky buzzard Billy's the update on your phone
It took him years to realize they are corrupt? I dont by it! It got rich then ditched.
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.
be skeptical of everyone, but cynical of no one. find reasoning in people's actions and act accordingly
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 😎
Loaded dice
Twin headquarters coins
Mark. Cardstock
Jumbled roulette wheel
Flexibility slots machine arms
Bumfuzzle bamboo baccarat table
Computer hack into the update system
@@stevewoodson4635lol casino is rigged
You mean eurozone not the eu
@CBS
This was not 60 minutes. Thiswas 13 minutes and 28 seconds.
Why did you censor the rest?
The interviewer works for Goldman
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.
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
Yeah, if they were so honest they wouldnt sweat a book.
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.
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.
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
8:32 best discription of GS & consort, couldn't have made it up myself
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!!!
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.
exactly my thoughts. may he stay safe and alive. brave man.
Hes basically saying he's tired of watching Goldman rip his clients off
Very courageous yo speak Up about what is wrong when that is unpopular
I understand by his from a Consumer Position, with Wells Fargo -
Not much in options now.
Well, as Warran Buffet always preaches, hedge funds consistently underperform the market. Instead of paying for "experts" for your investments, it's much more profitable to just buy the S&P ETF and sit and do nothing for 10, 20 years.
Didn't Warren Buffett own a lot of shares of Goldman Sachs in his Berkshire Hathaway stock portfolio? Why did Charlie Munger and Warren Buffett purchase so much Goldman Sachs stock?
this guys looking very hardworking. His eyes tells me.'
Lot of respect for this man.
banks and lawyers. damn ruined everyone.
Successful people don't become that way overnight. What most people see at a glance-wealth, a great career, purpose is the result of hard work and hustle over time. I pray that anyone reading this will be successful in life.
I advice everyone to start investing and never rely on just salary.. No billionaire made it through salary.
Yeah i agree with you sir
If you want to be successful have the mindset of the rich, spend less and invest more. Don't give up your dreams.
People come here with the aim of chasing money more than knowledge and that will damage your progress trust me. chase knowledge first and i promise the money will follow you.
That's very correct sir!! And that is why most of them end up losing they money to scammers.
Why go into finance if you have morals?
Because finance is an important part of the economy. Personally, I'm convinced that finance doesn't have to be toxic. It's a shame that it always seems to be tho
@@latslarsson2001 well wealth management and even most F.A aren’t but investment banking and even PE I’ve heard a lot of shady things
It is good to know there are good people, too bad they leave where they could do the most good.
401k plans always had hidden fees that's why when you look at the fund return says 20% return when you add up your actual gains the math doesn't add up. Thats why personal return % are usually not available for 401k plans are for IRA's where you trade your own stocks, mutual funds, or ETF's.