How're Your Investments Doing?

There's an interesting editorial in the N.Y.Times today by a young man (young by my standards) who claims he's quiting his job at Goldman Sachs. It's not so much that he's quiting that's interesting, except that it opens up a job opportunity for somebody else, as it is that he's quiting because he feels Goldman has veered from it's core principals. He now sees it as being far more interested in  how much it can make off it's customers instead of how it can help it's customers meet their goals. Does that surprise you? Are you shocked to hear that Goldman Sachs, or for that matter any of the big Wall Street houses, would think that way? That they're more interested in making money off you than they are about what you want or need? He says that they'd rather sell you something you don't want or need, so long as it makes them more money. Are you beginning to worry about your own investments? Well at least you have investments. But what about the company that's helping you manage those investments? Do they give two hoots what helps you? Oh, I know, they all tell you how much they can do for you. That they all want whatever is best for you. But is that what they actually do for you? Or do they, as this guy says they do, do they do whatever is best for them? Now to be honest, this young man states that he can find nothing illegal in what Goldman is doing. It's just that it's not the interests of the client that's of interest to them. Sounds like the interests of the client take a back seat to "how much money can we make off them". And the thing is that for the newer, young employees, this current theme is the one they see. They don't see where you work for the client and in doing so, you'll be rewarded. Now it's 'work for the companies benefit and the client might profit from it'. The thing is, I hate to burst his bubble, but I don't think he'll find a much different culture in any of the other Wall Street houses. I'm old enough to remember back to when John F. Kennedy said, in his inaugural speech to "Ask not what your country can do for you, ask what you can do for your country". Now-a-days it seems to be "Ask not of me, that which you can get from somebody else or do without", or in other words "Ask not what I can do for my country, ask why you aren't doing it for me". Corporate America seems to have changed to the point where they want only to make bigger profits, not just good profits. And if that means hurting the employees or customers, then so be it. I don't know about you, but I'm old fashioned. I'd rather see a company work to help me, instead of itself. Maybe I'm just selfish. But almost all companies used to have a social conscience. Now companies seem barely conscious of society.