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Posts Tagged ‘Greg Smith’

Ex Goldman Sachs Exec Greg Smith Gets $1.5 Million Book Deal

Sorry to start your Friday out like this, but we’ve got to tell you: The rich do, in fact, get richer. Greg Smith, the former Goldman Sachs executive who quit with a hilarious New York Times Op-Ed, is getting $1.5 million to write a memoir.

On Wednesday we heard that the deal was going to be about $1 million (which is absurd enough), but The New York Post reports that Hachette Book Group has agreed to pay a $1.5 advance to Smith.

Oh, and get this: that payday is about triple his old annual salary at Goldman Sachs.

USA! USA! USA!

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Former Goldman Sachs Exec, Op-Ed Writer Greg Smith Might Get $1 Million for Book

It’s good to be Greg Smith. The former Goldman Sachs executive who penned the now infamous New York Times op-ed about becoming saddened by the direction of the firm, might get $1 million to write a memoir.

The New York Post reports that Smith is being represented by Paul Fedorko at N.S. Bienstock, a talent agency that specializes in TV and radio, and that Fedorko is currently exploring several offers that could clear the $1 million mark.

Lesson learned? If you’re going to quit, do it in the most spectacular fashion possible and hope you get a book deal out of the resulting mess. Oh, we should add that this only applies to people who can afford to quit in a blaze of glory. Otherwise please stop writing that op-ed now.

Laughing at Goldman Sachs

In case you missed it, Greg Smith wrote an op-ed about leaving Goldman Sachs in The New York Times yesterday that has been getting reaction since the moment it was published. In the piece, Smith laments that the company is unrecognizable to him now, and that — shockingly — making money is the priority, not people. He also reveals that Goldman Sachs refers to clients as “Muppets.”

Below, some of the best reactions to the article.

  • @KenTremendous “Hang on hang on hang on. You’re telling me that Goldman Sachs is a rapacious, immoral, money-obsessed company? Since when?!”
  • Why I Am Leaving The Empire, By Darth Vader
  • “What’s missing in his op-ed is any sense of mea culpa, any sense that he was at all part of the problem.” Felix Salmon, at Reuters.
  • @BorowitzReport “Today’s NYTimes covers the fallout from the Times’ Goldman Op-Ed. Tomorrow: coverage of the fallout from that coverage.”