JPMorgan won't pile in on Goldman's misery

Most market watchers will be aware by now of the open letter sent to the New York Times on Wednesday by former Goldman Sachs banker Greg Smith. It accused his former employers of contempt for clients.

Most market watchers will be aware by now of the open letter sent to the New York Times on Wednesday by former Goldman Sachs banker Greg Smith. It accused his former employers of contempt for clients.

The middle-ranking equities salesman said senior staff often referred to clients as "muppets" and used phrases like "rip their eyeballs out".

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