Goldman Sachs finds no evidence in 'muppet hunt'

Goldman Sachs' internal investigation into allegations made by a former employee of a "toxic environment" within the bank has found little evidence to support the accusations.

The banks told its board of directors that weeks before his public resignation, Greg Smith complained about his bonus and said he deserved to be paid more than $1m, according to the FT. Goldmans began the investigation in March after Smith, who worked in derivative sales, used an open resignation letter published in the New York Times to attack the bank. Smith, who was based in London for the final years of his career at Goldmans, said staff described clients as "muppets" and "care only about making money." Smith argued Goldmans was no longer acting in the interests of clients, say...