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The psychology behind Greg Smith's op-ed

Financial professionals in the Goldman Sachs booth on the floor of the New York Stock Exchange watch President Obama give a speech about Wall Street financial reform in NYC. What was going through the mind of Greg Smith when he opted to resign via op-ed?

Some reaction in financial media now to the big story on Wall Street this week: Greg Smith, the Goldman Sachs guy, who spectacularly quit his job with a poison pen column in the New York Times. Smith believes Goldman's culture has gone bad, exploits customers, and calls them "muppets."

Today Wall Street Journal columnist David Weidner called Smith "self-righteous," writing, quote, "When all is said and done in the global economy, customers have always been and will always be 'muppets.'"

Bloomberg News has an editorial saying it's sorry the guy thought Goldman existed to bring peace and happiness to the world.  Headline: "Yes, Mr. Smith, Goldman Sachs Is All About Making Money."

But what makes someone decide to go through this kind of public break up with their company?

Here to talk with us is Dr. Gary Sperduto, CEO of Sperduto & Associates, a corporate psychology consulting firm.

And if you want another Marketplace take on the scandal, check out Heidi Moore's "The Devil Wears Pinstripes."

About the author

Jeremy Hobson is host of Marketplace Morning Report, where he looks at business news from a global perspective to prepare listeners for the day ahead.

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