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What You Need to Know About Goldman Sachs

Photo by Getty Images.

By Elizabeth Shell

In the scathing "I quit" letter heard round the world, Greg Smith wrote in the New York Times that after 12 years he was fed up with Goldman Sachs' practices.

"I attend derivatives sales meetings where not one single minute is spent asking questions about how we can help clients. It's purely about how we can make the most possible money off of them. If you were an alien from Mars and sat in on one of these meetings, you would believe that a client's success or progress was not part of the thought process at all," Smith wrote.

On Thursday's show we'll look at how Goldman Sachs operates and where it fits into the larger culture of Wall Street. First, though, a roundup of reporting on the firm by business and economics correspondent Paul Solman.

Live-blogging the Goldman Hearing | April 27, 2010

SEC Charges Goldman Sachs with Fraud | April 16, 2010

A Defense of Goldman Sachs | Feb. 18, 2010

Is Taxpayer Money Behind Profits at Goldman Sachs? | Feb. 12, 2010

Unraveling the Profit Puzzle at Goldman Sachs | Feb. 11, 2010

Where Does Goldman Sachs Fit in the Greek Debt Crisis? | Feb. 11, 2010

How Does Goldman Sachs Make Its Profits? | Jan. 21, 2010

This entry is cross-posted on the Rundown- NewsHour's blog of news and insight.

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Follow @elizabeth_shell

-- Posted March 15, 2012 | Comments ( ) | Permalink

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*Photo by Getty Images.* *By Elizabeth Shell* In the scathing "[**I quit**](http://www.nytimes.com/2012/03/14/opinion/why-i-am-leaving-goldman-sachs.html?pagewanted=1&_r=4&hp)" letter heard round the world, Greg Smith wrote in the New York Times that after 12 years he was fed up with Goldman Sachs' practices. "I attend derivatives sales meetings where not one single minute is spent asking questions about how we can help clients. It's purely about how we can make the most possible money off of them. If you were an alien from Mars and sat in on one of these meetings, you would believe that a client's success or progress was not part of the thought process at all," Smith wrote. On Thursday's show we'll look at how Goldman Sachs operates and where it fits into the larger culture of Wall Street. First, though, a roundup of reporting on the firm by business and economics correspondent Paul Solman. **[Live-blogging the Goldman Hearing](http://www.pbs.org/newshour/rundown/2010/04/live-blogging-the-goldman-hearing.html)** | April 27, 2010 **[SEC Charges Goldman Sachs with Fraud](http://www.pbs.org/newshour/rundown/2010/04/sec-charges-goldman-sachs-with-fraud.html)** | April 16, 2010 **[A Defense of Goldman Sachs](http://www.pbs.org/newshour/businessdesk/2010/02/a-defense-of-goldman-sachs.html)** | Feb. 18, 2010 **[Is Taxpayer Money Behind Profits at Goldman Sachs?](http://www.pbs.org/newshour/bb/business/jan-june10/goldmansachs_02-12.html)** | Feb. 12, 2010
**[Unraveling the Profit Puzzle at Goldman Sachs](http://www.pbs.org/newshour/bb/business/jan-june10/goldmansachs_02-11.html)** | Feb. 11, 2010
**[Where Does Goldman Sachs Fit in the Greek Debt Crisis?](http://www.pbs.org/newshour/businessdesk/2010/02/where-does-goldman-sachs-fit-i.html)** | Feb. 11, 2010 **[How Does Goldman Sachs Make Its Profits?](http://www.pbs.org/newshour/businessdesk/2010/01/how-does-goldman-sachs-make-it.html)** | Jan. 21, 2010 *This entry is cross-posted on the [**Rundown**](http://www.pbs.org/newshour/rundown/)- NewsHour's blog of news and insight.*

Follow @paulsolman Follow @elizabeth_shell