Goldman’s difference: It’s the cult

Clusterstock quotes a defensive apologia of Goldman Sachs from The Big Money that alternatively whines and gets aggro about all those horrible attacks against that wonderful Goldman Sachs.

The difference is that Goldman Sachs bankers can disagree only before decisions are made; once all opinions are solicited, consensus is reached, and decisions are made, the decision is one made by the firm, on behalf of everyone, and it’s final.

Well, that made me giggle, because in Communist terms, that precise process is called democratic centralism. Comrade Lenin would be startled to discover that uber-capitalists are using his methods.

It’s also how the Mormon Church operates. And guess what, it doesn’t function as described because the centralism part inevitably has way more power than any bedraggled attempts at democracy. And those who don’t like the decisions can’t change them, so they leave. Thus you end up with groupthink.

My browser tab may have inadvertently shown me the real explanation. The actual title of the Clusterstock post was “Goldman’s Difference: It’s The Culture” but my browser tab displayed it as “Goldman’s Difference: It’s The Cult”

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