Greg Smith's NYT op-ed created quite a stir. But as a Goldman Sachs "alum," I believe nowhere else has such an abundance of smart colleagues, the ability to innovate and set gold standards, and management that gets it right far more often than they get it wrong.
Just like all long-term relationships, the qualities which first attracted Greg Smith to Goldman Sachs now seemed wrong instead of right. Who or what had changed: Greg Smith or Goldman Sachs?
Lost trust in Goldman does not crash the market, but it certainly forces investors to be a little more hesitant. Capitalism is extremely efficient, but it is a system built on trust.