Death Star Economics



How to break up with a bank

You have probably already read it somewhere. Goldman Sachs is having a bad day. Greg Smith quit his job as executive director and head of US equity derivatives business in EMEA by handing in his notice writing an article in the New York Times. That’s a reasonable reaction, isn’t it? I’m considering a full page in the FT when I quit my job. Just, you know, to keep people in the loop.. so much gets lost when you update your LinkedIn headline.

Here’s a chart showing the correlation between seniority and the right to bitch about your job (thanks, Alphaville). Anyway, all in all, this is kind of a PR-punch in the face and Goldman is a globally trending topic on Twitter. Good luck to Jake Siewert, who just took the job as global head of corporate communications. His new-job-premise might actually be on par with that of Mario Draghi.

(There’s a lot a Star Wars jokes going around about this, including “Why I am leaving the empire, by Darth Vader” on the Daily Mash and tweets like this one by Daniel Drezner: “When I joined the Sith, the mission was all about bringing peace and order to the galaxy…” #startofanakinskywalkeroped.)

OtherwiseGreece was upgraded to B- by Fitch yesterday (that was easy…), Yahoo is suing Facebook over these patents and the UK is looking into issuing 100-year bonds (let’s call them infinity bonds, sounds much cooler) to service its public debt without having to think about tomorrow. That’s what I’m looking for in a government.

The Economist ranks cities by competitiveness: #1 New York (check), #2 London (check)… see chart

Also, there is a 6.1 earthquake in Japan, but no tsunami warning. read article

So long.


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One Response

  1. […] the economy and not Greg Smith. Greg who? Yeah, that’s probably why. Anyway, well done, Jake Siewert, this was nice. Blankfein also claimed to be fiscally conservative and socially liberal, like […]

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