WHEN BANKS ARE NO LONGER BANKS They Are Gambling Casinos "Vice President and Junior Trading Assistant is an awkward thing to put on a business card. But this sort of thing is becoming a trend: Grout follows close on the heels of Fabrice Tourre, who was sued by the SEC and who in July told jurors about "his former life as a 28-year-old Goldman Sachs Group Inc. vice president, working until midnight, six days a week on a vast trading floor, supervising no one," poor dear. And then of course there is Greg Smith, who before quitting Goldman to muckrake was simultaneously "executive director and head of Goldman’s U.S. equity derivatives business in Europe, the Middle East and Africa" and a "vice president, a relatively junior position held by thousands of Goldman employees around the world" and "the only employee in the derivatives business that he heads."** So, yeah, investment bank VPs in the news supervised, on average, 0.0 people."
Posted on: Wed, 18 Sep 2013 15:09:04 +0000
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