Goldman Loses $2.2B After Op-Ed

OUCH

Updated Apr. 21, 2017 5:16PM EDT / Published Mar. 15, 2012 1:05AM EDT

Mark Lennihan / AP Photo

Introducing the first $2.15 billion op-ed. After a resigning Goldman Sachs employee wrote a scathing piece for The New York Times about the company’s moral bankruptcy, Goldman Sach’s market value took a $2.15 billion hit. The company's share price tumbled 3.4 percent in trading Wednesday. The writer was Greg Smith, who spent 12 years at the company and held nothing back when blasting CEO Lloyd C. Blankfein and the culture of greed. The company sent a memo to employees on Wednesday, saying that Smith was wrong. Shares are still up 33 percent for the year.

Read it at Bloomberg

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Goldman Loses $2.2B After Op-Ed

Mark Lennihan / AP Photo