Brendan McDermid / REUTERS
The Goldman Sachs work traders on the floor of the New York Stock Exchange close.
Question: What are the costs for a company a disgruntled former employee?
Answer: it is Goldman Sachs over $2 billion.
This is how much the market value of the Bank after one of the directors, Greg Smith, resigned from the company was wiped out and wrote an op-ed piece in the New York Times attacking culture and treatment of clients of the company.
The Bank shares 3.3 percent in trading Wednesday as London Smiths fell article Wall Street and the media ablaze with discussion about the behavior of the major banks after the financial crisis of the taxpayers saved. The share price decline meant that $2 billion lost market value of Goldman. Market capitalization currently just $65 billion.
Still, Smith can on his own after his scathing condemnation of the Bank that bonus season was released at the end of Wall Street.
Annual incentive reach compensation consulting firm payouts for employees of the upper bank often in the millions, although this year bonuses down sharply from a year ago, according to Johnson Associates, a New York, are likely to be Wall Street.
Incentives to the end of the year 2008 in times of economic crisis greatly diminished, but have had a rest in the past two years, said Johnson Associates.
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