Photocopied excerpts of Why I Left Goldman Sachs: A Wall Street Story the tell-all by former Goldman Sachs employee Greg Smith, who quit the finance firm in a New York Times op-ed, have started making their way around Wall Street, before the book's official release on Monday. Considering the tone of his Times piece, where he accused Goldman of "callously ripping off clients" and called the company culture "morally bankrupt," the $1.5 million memoir promised to be full of juicy details covered in bitter au-jus. But from reading some of the excerpts the book sounds as underwhelming as DealBook's Andrew Ross Sorkin, who read the whole thing, made it seem on his CNBC appearance this morning. "It doesn’t say anything particularly revelatory about anything," he said, accusing Smith of conning The New York Times. That might be because the book doesn't have too many facts, as The New York Times's James B. Stewart notes. Don't trust them, below we've compiled the most shocking things out there so far.
A run in with a naked Lloyd Blankfien. Once Smith saw the Goldman Sachs CEO naked after showering at the gym. Blankfein was "air drying," as Smith puts it. [Deal Journal]
Drinking and naked women, but no drugs. What sounds like standard rich people partying, Smith describes a business trip to Las Vegas where he "spends some time" (whatever that means) with a topless woman named Ms. Silicone. He also says "getting smashed" was a common occurrence talking up various normal sounding parties, like one in which he DJs and plays (gasp!) Nelly and (gasp!) U2—at the same party (gasp!). He also discusses various other luxuries, like extravagant plane rides and fancy Ritz Carlton meals. But even with all the money flying around drugs are "severely frowned upon ... regarded with a certain horror." [Deal Journal]