Goldman Sachs resignation in NY Times sparks controversy
Is coverage of editorial fair?
- Duration 5:11
- Date Mar 16, 2012
Is coverage of editorial fair?
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The New York Times published a scathing resignation letter on its op Ed page this week written by a former executive at Goldman Sachs.
The times following up the next day devoted a large chunk of the Paper to the bankers high profile exit.
Talk about a -- Judith Miller of Pulitzer Prize winning investigative reporter who used to be employed by the New York Times we should mention.
Kirsten Powers is a columnist for the Daily Beast both are Fox News contributors -- -- you don't seem to have a problem from what I've read with what the times is done here.
No I I don't understand why there's any controversy.
It actually jives with plenty of information that's come out about Goldman Sachs before including committee hearings on -- sacks including.
Michael lewis' book where he wrote about me you know that the big short where he used to work.
On Wall Street and had said they hit it was like.
Absolutely exactly what was in the -- that that is turned into a completely different place that that things that are happening there.
Would not have happened in the past and that it's just turned -- into an app Celine morally bankrupt plays.
So I think that this is because it jives with what other people.
Have sad and I think he's a credible person I -- -- -- the problem.
As they published it on Wednesday AGB yesterday and Thursday.
The build the fall -- long story to this thing you've.
Can't really see it very well.
Took up the entire corner of the primary spot on the front page harboring -- says they've devoted -- the times 6000.
Words to this guy's letter.
And somebody had to have seen it in advanced I mean he he didn't just turn in his resignation.
At Goldman Sachs and then give this -- email it to the times.
Right he didn't that look I agree with -- on this one.
Is it news did it strike a chord on Wall Street and throughout New York you bet it -- And in fact every newspaper in the country followed it even oversees the Financial Times had a long article.
About Jamie Dimon is reaction ahead of JPMorgan.
To the Goldman the implications about Goldman and -- culture.
Goldman itself had to say that we're going -- investigate -- allegations were going to take them seriously.
I think it was genuinely.
And that spoke to concerns that have been growing about what's going on Wall Street.
But give it it well the one.
Writer said he's not a whistle blower he's a Goldman Sachs executive adding a midlife crisis.
How do we know that that's not the case -- and well I think there's been some reporting on him ABC did a pretty thorough report on -- -- they interviewed people who knew him and you know they they quoted a former classmate of him saying he had a strong moral compass they they found other people who.
Who agreed with his assessments they said that he was a real -- was a star there there are people on -- -- you know he'd been promoted from analysts to vice president without having a business degree.
-- -- he's a credible person and you know I think it's good today to always check and see who writes things to do to -- -- credible or not.
But what is -- this is -- a little too often these days is people just who disagree with that that cost in the sort ideologically with what the person is saying.
Think it's okay to -- the person apart based on nothing.
You know as I see a lot of accusations against the -- that really are not supported by anything other than the fact that people don't like Goldman Sachs being question.
Well that that's his picture Greg Smith he was a basically a bank of vice president in London for Goldman Sachs I guess the company has about.
But it just seemed to play -- into the the theme that the good times has been sort of pushing this year.
You know the Occupy Wall Street movement has has gotten a lot of favorable coverage in in the New York Times and it just seemed like it.
The sort of endorses what this guy is saying.
Either another look come the the customers of Goldman Sachs are you know well to do well informed firms that know what they're getting into.
Yes no -- forcing people to choose Goldman Sachs but when allegations like this are made and in this case as tears to his pointed out and I pointed out.
They've been made repeatedly about Goldman and what's been going on there.
You know attention must be paid.
And it was pain and the fact that the stock itself dropped so precipitously.
After this story attest to its news value.
And of course the paper's going to promote its own story and even though this article by Greg Smith was on the op Ed page.
It was a new story it was a genuine event and I can understand why.
Everybody's following because there are so many concerns about what's happened to corporate culture and culture on Wall Street.
The moment had come and it just struck a chord.
Well it and it is interesting that he had presumably twelve years of Goldman Sachs bonuses and didn't announces resignation until this year's bonuses that had been handed out.
But we'll see what happens in the future with Greg Smith he's -- -- have an interest in career amateur.
-- -- -- Judy Miller thank thank you join us tomorrow hear more from the panel don't -- news watch 2:30 PM eastern time I'll be hosting.
Please join us.