Goldman Sachs bans traders from swearing in emails
Telegraph
31 Luglio 2010
Alta moralità di Goldman Sachs: vieta ai suoi 34 mila pagatissimi dipendenti di scrivere parolacce nelle mail
Bankers have been warned that their emails will be censored and unacceptable words removed. They are also banned from using swear words with asterisks and shorthand for expletives.
The diktat was issued after Goldman Sachs' emails that were released during investigations into the bank's conduct embarrassed the company because they contained swear words.
In one email released to the US Senate, a senior executive at the bank, described a "**** deal" involving one company. The email was repeatedly referred to by American politicians when criticising the alleged culture at Goldman Sachs.
The swearing ban will affect more than 34,000 Goldman Sachs staff, many of whom are among the best-paid employees in the world. Screening software that identifies offending words will be used to enforce the policy. The move is likely to prove unpopular among testosterone-fuelled New York bankers who pride themselves on their colourful language.
Last night, in a statement, Goldman Sachs said: "Of course we have policies about the use of appropriate language and we are always looking for ways to ensure that they are enforced."
Goldman Sachs, and other Wall Street banks, are rushing to improve their image in the wake of the global credit crisis which they were blamed for triggering. The bank was recently fined more than $500 million (£321 million) by regulators – the biggest such fine ever levied.
Citigroup and JP Morgan are both also understood to have policies prohibiting swear words in emails. In June, Citigroup sent a message to its staff which warned that "recent headlines involving inappropriate emails are an important reminder to 'think before writing, read before sending.'" The New York stock exchange also said that it "unofficially discourages" swearing on the trading floor. It regularly issues memos – particularly since the trading floor is now televised – reminding traders to exercise proper decorum.
Robert Winnett in Washington
Source > Telegraph
