Greed and Capitalism

What kind of society isn't structured on greed? The problem of social organization is how to set up an arrangement under which greed will do the least harm; capitalism is that kind of a system.
- Milton Friedman

Thursday, March 15, 2012

Former Goldmanite Greg Smith's Profile

Former Goldmanite Greg Smith's Profile

Greg Smith's resignation letter made its waves across Wall Street yesterday, many were trying to gather as many telling details about the derivative salesman's past as they could.
Now, DealBook has that in-depth look at Smith's personal life and a more thorough exploration of what his actions really mean.



  • It is possible that Smith became disillusioned with Goldman after the firm initiated an internal investigation following the ABACUS settlement with the SEC—but the resulting report only supported Goldman's business practices and added to internal disclosure rules, people close to Smith told DealBook.

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