Today, the author Michael Lewis — drunk, perhaps on the potent cocktail that is the simultaneous success of both his goddamn book and the goddamn movie of his other book — gave voice to a thought that few would dare to speak aloud.
“This is a prediction that is going to come back and haunt me, but I think that Goldman Sachs is doomed. I don’t think that in its current form it can survive. We could be looking at four to five years, but the proprietary activities will split off, those people will end up in their own hedge fund — that is if new regulation doesn’t forbid it anyway.” The PR problems, Lewis thinks, will just be insurmountable. “Their relationships with customers on every front are poisoned, and they can’t function as an investment consultant if they have this problem of honesty.”
Haunt him. Please. As if they're going to wait for the afterlife. You think Goldman is going to have trouble functioning, Lewis? We'll see how well you function with a couple of pairs of Lloyd Blankfein's old tube socks stuffed in your mouth. Nice knowing you, dude.