en ex goldman sacs executive lets loose

http://finance.yahoo.com/news/why-i-am-leaving-goldman-sachs.html

 

Working in the financial sector I can say that what he is saying is not totally a Goldman thing, most if not all the major players on wall street have this mentality that its more important to make money for the firm than it is for the client. I interned at Prudential Securities and then got a job at JP Morgan right out of college and the firm first is what they were all about.

The sad part about this whole article though is that even with all that said about Goldman people will still put their money there and there will be thousands of people more than willing to take this guys spot.

 

I disagree. While there might be many who will take his place as someone who invests my money with certain mutual funds. I have no interest in getting involved with any investment firm whose only interest is to make me think I am getting big returns in order to charge me higher fees so that when the bottom falls out I'm left with nothing but they get a profit. Goldman ain't the only game in town and with information becoming more and more readily available their days are numbered. An investment firms single greatest commodity is information and with their grasp becoming looser as the years go by coupled with a horrible reputation they aren't going to be around much longer. The game is changing.

 

Actually, James Cramer touched on this subject in his autobiography (as he once worked for them)... just FYI