Goldman Sachs Exec Resigns and Rants

Greg Smith resigns and rips into Goldman Sachs in a NY Times op-ed.
1:10 | 03/14/12

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Transcript for Goldman Sachs Exec Resigns and Rants
An executive at Goldman Sachs is causing quite a stir today after tendering his resignation through an explosive New York Times op Ed piece. London based executive Greg Smith wrote a blistering letter to the Paper bashing the investment banking giant saying it's lost its moral fiber. -- Allen -- and has more on the letter and the fallout. He lays the blame all the way at the top -- to CEO Lloyd Blankfein. And he says the culture is not what it was when he started he said people are focused on profit they are not focused on helping out the client. He say here's clients' bad mouth in terms of began really -- focus being how can we make the money is worth a read it's very unusual. We know Goldman has been vilified. Since -- financial crisis by politicians. You know everyday people. And here -- -- you have someone inside -- all that criticism in many ways this is -- -- -- Goldman Sachs had this response quote we disagree with the views expressed which we don't think reflect the way we run our business and our view we will only be successful if -- clients are successful this fundamental truth lies at the heart of how we conduct ourselves.

This transcript has been automatically generated and may not be 100% accurate.

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