As a safe keeper of public money, before you offer a product to your client, Ask a question , Will I BUY IT ? Rules of an Ethical Banker

Thanks to Greg Smith
This is one fodder which gives 
ONE TIGHT SLAP 
TO THOSE WHO ARE THE 1%

Goldman Sachs director quits 'morally bankrupt' Wall Street bank Juliette Garside & Jill Treanor in The Guardian

Goldman Sachs On Wikipedia

Reply & Rebuttal by Goldman Sachs on CNN Money Where else :-)

Late 2000s financial crisis on Wikipedia

Did corporate governance fail during the 2008 stock market meltdown ???

Whos who of Subprime mortgage crisis Some of those WHO PREACH US DUE DILIGENCE ARE SHOWN AS DIRTY ROTTEN SCOUNDRELS on wikipedia

Why I Am Leaving Goldman Sachs Op-Ed by Greg Smith Ex Exec Director Goldman Sachs in New York Times Opinion Pages 

MUST READ THE ABOVE OP-ED and all links 

To understand what Ethics mean to an Ethical Person

I HAVE FOR ONCE PUT THE ROGUES GALLERY UP FOR THOSE

WHO TRY TO POSE AS HOLY COWS

Dumbo's I'm following finance as a subject from 1975

Many of you weren't even Born then

I often tweet

" Faith & Trust are the cornerstone pf finance , you lose trust you lost the game "

Once you lost faith of the customer

Be sure S/he takes away thousands more

#Venuquote

One must resisit from being a party to unethical going ons even at the cost of a personal Short term loss

Because in The LONG RUN 

finally

IT IS YOU WHO PROFIT

& 

Those unethical beings are destroyed

Because , you can shout out loud from the Roof Top

No voice will have the courage & conviction to protest or oppose

Honety is The best Policy IN THE LONG RUN

 (this still & allways hold good) 

Some Great quotes from the Op-Ed

some quotes from Greg Smith's open letter via the New York Times Op-Ed

Thanks to @spuriousmallu for the link, you made my day , Sir !!!

This is one piece of information with which I can Demolish the 

" SO CALLED HOLY COW'S of the ANTI CORRUPTION DRIVE 

WHO , IN MY OPINION ARE  FULLY SUPPORTED 

BY THE HELPING HAND OF THE Various Corporations mentioned in the wikipedia Rogues Gallery "

" TODAY is my last day at Goldman Sachs. After almost 12 years at the firm — first as a summer intern while at Stanford, then in New York for 10 years, and now in London — I believe I have worked here long enough to understand the trajectory of its culture, its people and its identity. And I can honestly say that the environment now is as toxic and destructive as I have ever seen it. "

"" I knew it was time to leave when I realized I could no longer look students in the eye and tell them what a great place this was to work. ""

" To put the problem in the simplest terms, the interests of the client continue to be sidelined in the way the firm operates and thinks about making money. "

"  The firm has veered so far from the place I joined right out of college that I can no longer in good conscience say that I identify with what it stands for. "

" It revolved around teamwork, integrity, a spirit of humility, and always doing right by our clients. The culture was the secret sauce that made this place great and allowed us to earn our clients’ trust for 143 years. "

" When the history books are written about Goldman Sachs, they may reflect that the current chief executive officer, Lloyd C. Blankfein, and the president, Gary D. Cohn, lost hold of the firm’s culture on their watch. I truly believe that this decline in the firm’s moral fiber represents the single most serious threat to its long-run survival. "

" How did we get here? The firm changed the way it thought about leadership. Leadership used to be about ideas, setting an example and doing the right thing. Today, if you make enough money for the firm (and are not currently an ax murderer) you will be promoted into a position of influence."

" What are three quick ways to become a leader? a) Execute on the firm’s “axes,” which is Goldman-speak for persuading your clients to invest in the stocks or other products that we are trying to get rid of because they are not seen as having a lot of potential profit. b) “Hunt Elephants.” In English: get your clients — some of whom are sophisticated, and some of whom aren’t — to trade whatever will bring the biggest profit to Goldman. Call me old-fashioned, but I don’t like selling my clients a product that is wrong for them. c) Find yourself sitting in a seat where your job is to trade any illiquid, opaque product with a three-letter acronym. "

READ IT 100 TIMES & FOLLOW

Never think of Selling whatever you market

Always build relationship

Before you offload your ware

Pause for a few Moments & Think 

 Ask yourself

 ONE question which  I always ask myself

"   WILL I, BUY THIS ??  "

If the answer is NO ,

THEN

 keep quiet 

and give your customer WHAT HE OR SHE NEEDS

I was , am & shall always be like this

I will side step rather than give up my principles

Because , Balance Sheets are year on year

Organisation is perpetual .. on its future depends , future of its stake holders

1  Owners

2 Shareholders

3 Customers

4 Investors

5 Employees

and at thebottom of the pyramid THE MOST VITAL

Fmilies of 1 thru 5 , they would be the poor ignorant sufferrers of the wrong decisions you take for a few pennies more

Due Diligence is a Vital Instrument . Be Ethical , because on your judgementy , lies trust of your stakeholders

Be Faithful & Friendly

You shall always Win

This is what I have always been Telling You 

see Where we Indians & India Stand

JAI HIND

List of 20 Largest Economies by Incremental Nominal GDP from 2007 to 2011 by the International Monetary Fund 

We are No 5 shall be No 2 Germany shall be No 1 by 2015

(OF COURSE IF ANNA STAYS IN RALEGAN SIDDHI) 

Rank	Country	GDP (billions of USD)	Share of Global Incremental GDP	Annualized GDP Growth
	World	14,331.570	100.00%	6.4%
1	China	3,494.240	24.38%	25.0%
2	United States	1,477.420	10.31%	8.4%
3	Brazil	1,139.740	7.95%	20.7%
4	Japan	1,036.140	7.23%	1.8%
	European Union	985.438	6.88%	1.5%
5	India	690.569	4.82%	15.0%
6	Russia	585.200	4.08%	11.3%
7	Australia	553.746	3.86%	14.5%
8	Indonesia	402.103	2.81%	23.3%
9	Canada	334.613	2.33%	5.9%
10	Germany	300.034	2.09%	2.3%
11	Switzerland	231.780	1.62%	13.3%
12	France	221.090	1.54%	2.1%
13	Saudi Arabia	175.095	1.22%	11.4%
14	Argentina	173.087	1.21%	16.5%
15	Iran	165.998	1.16%	13.4%
16	Mexico	149.978	1.05%	3.6%
17	South Africa	136.234	0.95%	11.9%
18	Italy	126.459	0.88%	1.5%
19	South Korea	114.608	0.80%	2.7%
20	Turkey	113.971	0.80%	4.4%
	Remaining Countries	2,709.465	18.91%

List of 20 Largest Economies by Incremental GDP (PPP) from 2007 to 2011 by the International Monetary Fund 

WE INDIA ARE NO 2 NO 1 IN 2015 I PREDICT

(OF COURSE IF ANNA STAYS IN RALEGAN SIDDHI)

Rank	Country	GDP (billions of USD)	Share of Global Incremental GDP	Annualized GDP Growth
	World	12,173.900	100.00%	4.6%
1	China	3,982.470	32.71%	13.6%
2	India	1,358.450	11.16%	10.9%
3	United States	1,036.140	8.51%	1.8%
	European Union	949.937	7.80%	1.6%
4	Brazil	452.663	3.72%	6.1%
5	Indonesia	282.220	2.32%	8.4%
6	South Korea	268.174	2.20%	5.2%
7	Russia	260.758	2.14%	3.1%
8	Germany	245.872	2.02%	2.2%
9	Argentina	186.084	1.53%	8.9%
10	Turkey	166.360	1.37%	4.7%
11	Taiwan	165.963	1.36%	5.8%
12	Mexico	162.777	1.34%	2.7%
13	Poland	142.546	1.17%	5.7%
14	France	142.482	1.17%	1.7%
15	Iran	139.535	1.15%	4.4%
16	Saudi Arabia	128.810	1.06%	5.9%
17	Canada	127.482	1.05%	2.5%
18	Australia	126.854	1.04%	4.0%
19	Nigeria	119.874	0.98%	10.1%
20	Egypt	111.026	0.91%	6.9%
	Remaining Countries	2,567.360	21.09%