A prestigious financial firm since the 19th century, and now there are questions raised by former Sachs executive, Greg Smith, over the corporate giant's true candor toward its clients. So, what's really going on behind Wall Street doors? Harvard Business Review Editorial Director Justin Fox offers a few possible explanations:
Smart people started working there. Wall Street had long attracted the bottom third of the class; decent enough folks with modest ambitions. Then the combination of bigger paychecks and higher college and grad school tuition began driving the best students into finance. ... And the culture of an organization composed entirely of people who are really, really smart and_know_they are really, really smart may bebound to turn toxic eventually.