Tag Archives: Wall Street Journal

Goldman Sachs – The “Muppet” Show

A manager at US banking giant Goldman Sachs in London has quit, saying he could no longer work there “in good conscience”. Greg Smith, who headed Goldman’s equity derivatives business in Europe, said it was common to hear talk of ripping off their “muppet” clients. “The environment now is as toxic and destructive as I […]

‘Who is in charge of bread supply in London?’

Sometime before 1989, a Soviet official asked economist Paul Seabright who was in charge of London’s bread supply. Seabright gave him an answer that is comical but also true: ‘nobody’. The bread we eat turns up on our tables thanks to an incredible team effort (bakers, machinists, electricity suppliers, distributors etc etc). And even more […]