Goldman Sachs is unveiled

Since Greg Smith’s resignation letter was published in The New York Times last week, commentators have rushed to agree with his complaint about the sad decline of the culture at Goldman Sachs. Smith’s previous employer has, during the past few years, apparently abandoned its client-supportive business model for the false god of short-term profits.

It’s alleged that clients are denigrated behind their backs and fooled into making poor investments ones that Goldman has probably betted against anyway.

This solemn lament for a corrupted Eden is absurd, if not disingenuous.

I worked as a bond salesman on Goldman’s London trading floor in the early...