Goldman Sachs Roiled by New York Times Op-Ed Loses $2.2 Billion for Shareholders — The company saw $2.15 billion of its market value wiped out after Greg Smith assailed CEO Lloyd C. Blankfein’s management and the firm’s treatment of clients, sparking debate across Wall Street.
Goldman Sachs Group Inc. (GS) saw $2.15 billion of its market value wiped out after an employee assailed Chief Executive Officer Lloyd C. Blankfein’s management and the firm’s treatment of clients, sparking debate across Wall Street.
The shares dropped 3.4 percent in New York trading yesterday, the third-biggest decline in the 81-company Standard & Poor’s 500 Financials Index, after London-based Greg Smith made the accusations in a New York Times op-ed piece.
All I can say is “good”.
