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Matt Taibbi: On Goldman Executive Greg Smith's Brave Departure

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Image from a quicklink The resignation will have an effect on Goldman's business. The firm's share price opened this morning at 124.52; it's down to 120.72 as of this writing (it dropped two percent while I was writing this blog), and it will probably dive further. Why? Because you can stack all the exposés on Goldman you want by degenerates like me and the McClatchy group, and you can even have a Senate subcommittee call for your executives to be tried for perjury, but that doesn't necessarily move the Street. But when one of the firm's own partners is saying out loud that his company liked to "rip the eyeballs out" of "muppets" like you, then you start to wonder if maybe this firm is the best choice for managing your money.

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At www.rollingstone.com

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