London, October 19: A book written by former Goldman Sachs executive director has ousted the life of excess and drunken debauchery at the firm.
Greg Smith’s book, Why I Left Goldman Sachs, details how in 2005 Goldman Sachs executives partied in Las Vegas by sharing a hot tub with a topless woman they dubbed ‘Ms Silicone,’ the Daily Mail reported.
Smith, who publicly quit the firm, wrote that during a bachelor weekend with colleagues they stayed at the five star Mandalay Bay Hotel where they drank themselves senseless and gambled at all hours.
The following afternoon the group were all hungover so they partied in the hot tub at the hotel – with the topless woman they called ‘Ms Silicone’- apparently named for her large, fake breasts.
Smith’s book not just exposes the ‘toxic’ culture at the bank, but the excess that comes with it.
Smith resigned in March and in a resignation letter, which was published in the New York Times, he made the explosive claims that senior staff called their clients ‘muppets.’
“Alcohol was a big part of the culture at the firm, as it is on Wall Street in general. Getting smashed with your clients was a regular occurrence,” the paper quoted him as writing in the book.
Smith also talks about a party put on for the securities division at Chelsea Piers in New York, which took place in December 2006.
Clearly stunned even now, he writes that it was ‘an unbelievably ostentatious affair.’ (ANI)