A couple of weeks ago, Greg Smith set off a media storm when he wrote an op-ed in the Times explaining why he was leaving Goldman Sachs after 12 years.
While many were in all likelihood quietly gloating over their bowl of cereal as they read the inflammatory piece, others pointed out that Smith had waited until yearly bonuses were handed out before he quit. Others pondered why it had taken him over a decade to realize he didn’t like his bosses. Some thought the whole affair might be a bit of publicity before he got into politics. And others believed it was a prelude to a book. They were right.
[For more on reactions to Greg Smith's resignation, read Funniest Web Reactions To Goldman Sachs Exec’s Very Public Resignation.]
Smith reportedly shopped his book proposal round to several major New York publishers last week, describing what he said would be an inside look at Goldman and how he believed the culture at the firm had changed over the last decade.
He has now just sealed a deal with Grand Central Publishing, part of the Hachette Book Group for a reported $1.5 million, according to the New York Post.
Bashing a bank can be big business, of course.
Watch this space for a review.