Everyone Is Coming To The Same Depressing Conclusion About Greg Smith's Goldman Sachs Tell-All

Greg Smith

Photo: Goldman Sachs via NYTimes

Now that a number of journalists have seen Greg Smith’s Goldman Sachs book, we can do a fly-around and see what the general take-away is.And usually, when controversial books like this comes out, there’s a debate about the contents and what it means for Wall Street at large — so we expected fireworks.

In this case, that just isn’t happening. Even journalists who are critical of Goldman Sachs are saying, aside from a hot tub scene and some internship insight, this book is a snooze fest.

Take Goldman vet and Bloomberg columnist William Cohan for one. He literally wrote the book on Goldman, Money and Power: How Goldman Sachs Came to Rule the World, and his wife happens to be an executive at Grand Central Publishing, the company that paid Smith $1.5 million to write the book.

In his piece, he calls Greg Smith a con-man. Not because anything he said was untrue, but because he has us all sitting up and listening for nothing.

Here’s Cohan’s take (via Bloomberg):

What to make of Goldman Sachs Group Inc.’s release to Bloomberg News of internal self-assessments and peer reviews of Greg Smith, who left the firm in March through a notorious op-ed piece in the New York Times. While the release of the documents does raise troubling questions for the bank itself, what they reveal about Smith — without question — is that he is nothing more than a sweet-talking con man.

He conned the Times into thinking he was resigning from Goldman Sachs on principle, when he was really nothing more than a disgruntled and ambitious former employee who wanted a bigger bonus and a bigger title and got, and merited, neither.

Andrew Ross Sorkin put in his two cents about Greg Smith’s Goldman Sachs tell-all book on Squawk Box this morning as well (h/t qz).

His verdict is the same It’s a snooze fest, and he wants the time he took skimming the book back.

“It reads like a diary… the most interesting this is his one brush with Lloyd Blankfein” (in the gym bathroom where he saw Blankfein naked).

Sorkin agree with Cohan on the idea that , The New York Times as well for running the original op-ed.

“I feel in a way he might of conned the NY Times for running the op-ed… he may have conned 60 Minutes,” (where Smith will do an interview on Sunday).

“He may have conned everyone else,” Sorkin continued.

Check out the video below:


NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.