Goldman Scours Emails for 'Muppet' References
Lloyd Blankfein struggles to control Greg Smith fallout
By Kevin Spak, Newser User
Posted Mar 22, 2012 11:36 AM CDT
Traders work in the Goldman Sachs booth on the floor of the New York Stock Exchange Thursday, March 15, 2012.   (AP Photo/Richard Drew)

(Newser) – Goldman Sachs is searching its internal email system for any use of the term “muppet,” as it struggles to spin a scathing op-ed piece from departing executive Greg Smith. In a conference call with Goldman partners last week, CEO Lloyd Blankfein assured them that they'd root out any instance of employees disparaging clients, sources tell Reuters. Blankfein didn't specify what he'd do if they found anything.

In one memorable passage of his parting shot, Smith said he'd “seen five different managing directors refer to their own clients as 'muppets.'” They probably didn't mean Kermit and company either; “muppet” is British slang for moron. In an internal memo last week, Blankfein and President Gary Cohn warned employees that they'd be “carefully” examining the issues Smith raised.

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fractal
Mar 22, 2012 1:05 PM CDT
Yes, I'll just bet they are SCOURING their emails---clean. Would you want someone who is in charge of your money to have such little respect for you? Of course, once someone is dehumanized like that, it is much easier to shit on them. Or pack their portfolios with crap.
wwwonderer
Mar 22, 2012 12:56 PM CDT
Just because you refer to clients as morons doesn't necessarily mean you are trying to defraud them. I've worked on plenty of computers where I know the owner/user did something unwise. It's ok. It happens. Conversely, I've been at organizations where the IT people don't know I know computers, and as I hear their elaborate explanation of something (usually why they can't get to something that day/week/month), I think "wow, that's some grade-A bullsh!t." With that being said... I doubt the guys that actively tried to squeeze as much money from unsuspecting customers acted in good faith.