In one of the most spectacular and public resignations in corporate America, former Goldman Sachs employee Greg Smith quit the firm after twelve years in a scathing op-ed published in the New York Times.
Smith has expanded his resignation letter into a new book, “Why I Left Goldman Sachs,” set to hit stores today.
Smith’s motivation for writing the book has been questioned by members of the Wall Street community, including William Cohan, former investment banker and author of “Money and Power: How Goldman Sachs Came to Rule the World.”
Cohan sits down with Soledad O’Brien and Christine Romans on Starting Point today to explain why he recently referred to Smith as a “con man.”
“This was a guy who was very happy to take Goldman Sach’s money year after year and then he gets promoted and he wants a million dollars and when he doesn’t get it he’s mad,” Cohan says. “Wall Street does have a very big problem. There are cultural problems on Wall Street. Part of the cultural problems on Wall Street are people like Greg Smith who are not happy with making $500,000 a year who are 33 and single.”