Some smart observers of the Street, like the Pulitzer-Prize-winning author ("Lords of Finance") Liaquat Ahamed, say that while Sherman is correct to say Wall Street is much more restrained at the moment, much else has not changed. ![]() There is, first of all, every reason to think Smith was telling the truth. ![]() But the larger point is: We need to pay a lot more attention to Greg Smith than to Gabriel Sherman. Now comes Greg Smith, an apparently conscience-stricken renegade from Goldman Sachs, who tells us that not only has nothing changed in the firm's culture, but he "can honestly say that the environment now is as toxic and destructive as I have ever seen it."Īctually, maybe yes.
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