It was just over a week ago that former Goldman Sachs executive Greg Smith offered a scathing criticism of the investment bank on the op-ed page of the New York Times, further sullying the reputation of a Wall Street firm that has repeatedly taken heat in recent years from critics who accuse it of being an emblem of corporate greed.
Now, Reuters is reporting that the company is reviewing internal company e-mails for insulting descriptions of clients, including the use of the term ‘muppets,’ which Smith said in his essay was common practice among some executives at the firm.
Reuters reports that chief executive Lloyd Blankfein informed partners of the search on a conference call this week. It is not clear whether there would be consequences should they find anything inappropriate, Reuters said.
The day the essay hit newsstands, chief executive Lloyd Blankfein wrote a letter to Goldman’s staffers that indicated he believed Smith’s assessment of the status quo at Goldman was inaccurate. Still, that company executives may be investigating the claims seems to show that they haven’t totally dismissed them.
Smith’s op-ed described the investment bank as a “toxic and destructive”place to work and depicted a corporate culture in which making money for the firm was regularly prioritized over providing the best service possible to the client.