If we're to believe The New York Post, it appears the bidding war for ex-Golman Sachs executive and New York Times' op-ed writer Greg Smith's memoir is about to scratch the $1 million mark--roughly double Smith's salary while working for the Vampire Squid. The New York Post's Keith Kelly reported that editors are already chiming in that Smith's book deal is nearing the $1 million mark, but bear with us while we take Kelly's one-source reported story with a grain of salt. Another editor even told Kelly: “It could go either way... There’s some big upside potential as well as some downside", when asked if the number could be $1 million. Sounds flimsy right? And, yeah, murmurs of a $1 million book deal fits (almost too) nicely into the story of this man damning the empire and getting rewarded because of it.
That said, and skepticism goggles off, that's a whole lot of money--even for Smith who has cashed in his fair share of Vampire Squid paychecks. Smith, according to Dealbook's sources, was only paid around $500,000 last year. So a $1 million deal would be a pay increase in some ways. And it's exponentially more than the $150 he was paid by The New York Times for writing that fiery resignation letter/op-ed. Then again, the piece apparently worth $2.15 billion—at least that's what Goldman Sachs apparently lost the day it was published.
This article is from the archive of our partner The Wire.