BU Now » financial risk taking http://blogs.bu.edu/bunow News, information and research from Boston University Wed, 21 Sep 2011 18:14:24 +0000 en hourly 1 http://wordpress.org/?v=3.1.4 No more “sh***y deals” at Goldman http://blogs.bu.edu/bunow/2010/07/29/no-more-shy-deals-at-goldman/ http://blogs.bu.edu/bunow/2010/07/29/no-more-shy-deals-at-goldman/#comments Thu, 29 Jul 2010 21:38:27 +0000 Dick Taffe http://blogs.bu.edu/bunow/?p=6498 email logoOn the heels of Congressional hearings in which e-mails from Goldman Sachs traders told of “sh***y deals” being offered to customers, the Wall Street bank has now banned profanity in company e-mail correspondence.  School of Management master lecturer Mark Williams, a former Federal Reserve Bank examiner and author of “Uncontrolled Risk” about the fall of Lehman Brothers, says profanity was never the problem at Goldman — it was excessive risk taking with other people’s money.

“Wall Street has been built on the backs of aggressive traders that talk tough and take sizable bets.  Addressing swearing but ignoring excessive risk taking is simply a legal maneuver devised to protect Goldman Sachs, and leaves our economy exposed to its risky practices.”

Contact Mark Williams, 617-358-2789, williams@bu.edu

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