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. (Read more Lloyd Blankfein stories.)