Just a reminder: Goldman Sachs not only rips off their clients, or “muppets,” as former executive director Greg Smith wrote this morning; they also screw over their female employees. According to Goldman stats from September of 2010, women made up 29 percent of the firm’s vice presidents, 17 percent of its managing directors and 14 percent of its partners.
That was also the same month that a complaint was filed in US District Court in Manhattan by three former female employees accusing Goldman of systematically discriminating against women. The plaintiffs alleged that male staffers took them to topless bars, gave a huge bonus to a man accused of accosting a female worker, wrote and circulated racist emails with immunity, and even hired ‘female escorts’ dressed in Santa hats as entertainment on a company holiday.
As Smith put it, this is truly a “toxic” culture. Goldman alienates its executive leadership. Its analysts work to squeeze as much money out of their clients as possible. And its male-dominated staff systematically denigrates their female employees.