Greg Smith, the man who rocked Wall Street by writing an op-ed about the toxic culture at Goldman Sachs, will release his Why I Left Goldman Sachs memoir, next week.But since waiting is such an arduous task, the NYT has leaked the contents of the first chapter of the book. Naturally, it starts at the beginning — with the humiliation Smith experienced as an intern.
We’re talking 6:00 AM training meetings and interns bursting into tears. Since there weren’t enough chairs on the training floor, interns were forced to carry around small stools that they would park next to professionals.
And then there’s the cheese sandwich incident.
The first chapter, titled ‘I Don’t Know but I’ll Find Out” begins on Mr. Smith’s first day at Goldman, where he was one of 75 interns in the sales and trading program. Twice weekly he attended what are known inside Goldman as ‘Open Meeting,’ which he says is the firm’s version of boot camp for trainees. The meetings started at 6 a.m. and if enough people showed up late, the entire class had to attend a makeup meeting at 5 a.m. the next day…
Mr. Smith worked on Goldman’s equities trading floor in Lower Manhattan. He writes that many of his days were spent hauling his stool around the floor and there were always more interns than stools. He would be called upon to grab research on stocks, and frequently was asked to pick up lunch for trading desks. The idea here, he said, was if an intern gets a lunch order wrong they are probably going to err elsewhere.
Mr. Smith recalls one Goldman executive who asked an intern for a Cheddar cheese sandwich. The intern came back with a Cheddar cheese salad. The executive was furious, and threw the salad out.
Sounds awkward. We can’t wait to read the book.