Video: William George, Professor of Management at Harvard Business School and member of the board of directors at Goldman Sachs
At the 2:40 mark, George shows he's an idiot:
- "The shareholder value is made up in people and you need the people there to do the job."
- "If you don’t pay them for their performance, you’ll lose them. It's much like professional athletes and movie stars."
This is complete and utter nonsense that we've debunked more times than we care to remember. Goldman and Citi are competing with hedge funds for top talent. Hedge funds didn't blow up the world, but synthetic CDOs of toxic MBS securitized by Goldman Sachs and others did figure heavily in the carnage. The too big to fail investment banks deserve to lose their top talent.
AIG CEO Benmosche gets torched at the 6:15 mark.
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