MEDIA LOSER: Jim Cramer
Young Goldman Sachs associates are complaining about grueling work conditions, but one prominent alum of the financial behemoth has little sympathy.
CNBC's Jim Cramer -- who worked at Goldman in the 1980s -- erupted in a rage on Friday's Squawk Box, belittling the analysts for complaining about inhumane working conditions, deteriorating mental health, and high levels of stress.
One issue in particular that drew Cramer's ire was the analysts' "ridiculous" complaint that they were only able to sleep 5 hours a night, sneering that they didn't even need that much, and the long hours were part of the deal.
“Give me a break!" Cramer exclaimed. "You go to Goldman Sachs because of the deal you make! You can make the money, and then you can do something great. Five hours, that’s all they get to sleep, that was pathetic! They should not be sleeping five hours!”
It's true that Goldman pays their people very generously, but the details from their internal survey were highly troubling. Cramer is literally cheering for an employment system that is endangering the physical and mental health of their employees. From his own telling, he personally relished hazing young analysts. "SHAME," indeed. |