Clip of the Day: Colbert Burns Goldman Sachs Turncoat

Repentant banker Greg Smith fails the Stephen Colbert sniff test.
Mar 15, 2012· 0 MIN READ
Originally from Baltimore, Oliver lives and writes on a quiet, tree-lined street in Brooklyn.

Greg Smith's instantly infamous New York Times op-ed “Why I Am Leaving Goldman Sachs,” in which the lapsed investment banker describes a steady ethical deterioration during his 12-year stint at the firm (noteworthy revelation: bankers like to call their clients “muppets”), has earned the ire of Stephen Colbert.

The Comedy Central satirist declares Smith “Banker-dict Arnold,” explaining that the recovering Goldman employee had commited one of Wall Street's cardinal sins. “You never go public with complaints about your bosses,” said Colbert. "And in exchange, one day they will explain to you what it is you do for a living.”