Fear and Drinking at Goldman Sachs


Since the media and the good people in the United States government identified Goldman Sachs as the root of all evil, managers at the firm have been encouraging employees to keep a low profile. Some employees are taking this extremely seriously, according to the Journal, by not talking to the press, saying "Halliburton" when asked where they are employed, and doing whatever they can in order to avoid being corralled into arguments about collateralized-debt obligations with know-nothing commoners.

Some employees are even reluctant even to go out to lunch with co-workers for fear of being overheard talking about Goldman, said one person familiar with the matter.

And some are not.

"As the hearing dragged on, employees and alumni fired text messages, emails and instant messages back and forth about the group's performance. One Goldman employee said he was invited to tag along with a group of traders who said they were heading to a bar to watch Mr. Blankfein's testimony. He said they joked that they planned to down a shot of liquor every time the CEO used the word "synthetic," a reference to the type of collateralized-debt obligation for which Goldman has been accused of fraud by the Securities and Exchange Commission."

For Employees, Concern and Shots [WSJ]