Goldman Sachs says inequality is good

October 21, 2009

http://www.bloomberg.com/apps/news?pid=20601087&sid=a8upOpH5Q3Tw

Goldman Sachs embraced Gordon Gecko’s Greed is Good.  Brian Griffiths of Goldman Sachs spoke at St. Paul’s Cathedral in London.

Griffiths:  We at the top are the country.  Those at the bottom are widget people.

Reporter:  Could you define widget people?

Griffiths: Anyone who doesn’t work at Goldman Sachs.

Reporter: Even Morgan Stanley?

Griffiths: Morgan Stanley talks to Goldman.  Goldman talks only to God.

Reporter: Is this the basis of your M and A practice?

Griffiths: We tell CEO’s merge and liquidate widget people.   Works everytime.

Reporter: Works for the widget people?

Griffith: No, works for the bonus people.

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