What I gleaned @ Goldman Sachs

The Wall Street firm is in the news (though not enough in the news for my liking) for possibly helping Greece cook the books and raise money via a clandestine currency swap and then a $15 billion dollar bond sale in 2002. The allegations are that the secret currency swap allowed the bonds to be sold for more, helping to conceal the state of Greece’s deficit and smoothed their entry to the Eurozone.

The word on the Street is that it was legal at the time. Word also has it that Angela Merkel is hopping mad. I just shake my head. I worked for the firm a short time in the 90s and I had also worked for two other US Investment banks so I like to think I have something to compare them to. In the hierarchy of investment banking in London the aggressive and chippy Morgan Stanley bankers like to trumpet they are the best of the best. Goldman’s employees do no such thing; they merely graciously accept that they are. Whilst CSFB et al live in shiny skyscrapers at Canary Wharf, Goldman Sachs have a secret banking building set back off Fleet Street, which I managed to snap on the No. 26 bus last week.

I have no insights to offer into the firm. They remain a mystery even if you have worked there and suffered their most intense induction for one whole week before you are let loose on the floors of Peterborough Court. I would suggest that secretive is just their bag. Why no-one seems to care that they have allegedly contributed to the concealment of a whole nation’s bottom line is beyond me.

Two Things I learned in American Investment Banks:

No-one likes Leipzig
Continental bankers favour highly-coloured trousers

That’s it.

Posted on February 24, 2010, in Consumerism, News, Nostalgia, Punting and tagged , , , , , . Bookmark the permalink. 7 Comments.

  1. I would like a copy of your cv, I can’t quite work out your career trajectory.

  2. Listen ‘ere, Foster. We can’t work out her career trajectory and we’re family, so don’t be thinking that you’re going to jump the queue in that regard. I shall be bribing her with coffee cupcakes sur le weekend a la Dorset.

  3. Sorry, I forgot, avec Twiglets.

  4. Don’t forget the custard.

  5. The trajectory was more of bumpy road, with pot holes. There has never been a career. I have no ambition (well not in the sense of ooh I must scale the heights of the _______ world).

    Of course I went straight from investment banks to dog walking and cat-visiting in the east end.

    Hurray for Stoke. Adebayor being shown the red made us Arsenal associates feel a bit better.

  6. He went off looking so deeply grieved too, as if to say:

    ‘How is it that I, I who have seen gunshots and death in Angola, can be sent off for merely lashing my arm across young Shawcross’ throat? This is a great injustice to Emmanuel Adebayor.’

    I like the sound of Elodie as per above and I will certainly be using her tremendous, ‘Well technically…’ line in my current project. I will get some characters to make noise deliberately so that I can include it.

  7. She is too smart for her teachers and parents.

    You have Ade’s inner voice down pat I’d say.

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