Goldman Sachs: No More "Sh**ty" Deals

Sen. Carl Levin quoted an internal Goldman Sachs email which referred to a security the company was selling as a 'sh**ty deal' back at a Senate hearing in April.

/ AP Photo/Charles Dharapak

Goldman Sachs might still be able to sell a bad mortgage-backed security, but there'll be no more "sh**ty" deals.

The Wall Street firm has told its employees that they can't use profanity in emails, text messages or instant messages anymore, not even ones with asterisks, The Wall Street Journal ($) reports Thursday.

That's 34,000 traders, investment bankers and other employees suddenly seeing their arsenal of four- and five-letter words out of reach. The company will even screen the messages with computer programs to prevent ones that might slip by.

The term "sh**ty deal," if you remember, provided the touchstone moment at an April Senate hearing featuring Goldman executives. Sen. Carl Levin repeatedly - and to comically indignant effect - invoked the phrase in a memorable 10-minute period during which he questioned Daniel Sparks on whether the company was pushing a bad mortgage security called Timberwolf on clients. He quoted an email sent to Sparks, which read: "Boy, that Timberwolf was one sh**ty deal."

Levin then asked: "How much of that shi**ty deal did you sell?"

And "you didn't tell them that you thought this was a sh**ty deal?"

And "should Goldman Sachs be trying to sell the sh**ty deal? Can you answer that one, yes or no?"

There were even T-shirts made.

No word on whether this applies to shorthand forms like "WTF."

[rockcutr]

Limited communication skills clearly define the individual without prejudice. The spewers of linguistic fecal matter have simply exchanged speach from the intended exit point to the posterior. The voice is changing but the breath is still the same.

[thanksgreed]

spewers of "linguistic fecal matter"... holy sh#* ! By the way, learn to spell.

[thanksgreed]

well damn.

[mrleme]

Congress, specifically Senator Levin, should watch his mouth with everything being televised and goes without saying so should our current administration. Talking like that makes you less of a person that people can look to for leadership. As for Wall Street etc. everyone should have a bar of soap at their desk, ready to shove in when tempted to speak foul because other workers have to sit and listen to it.

[pragmatist1]

I'd like to see members of Congress and the current administration also adopt this ban. Using profanity or crude language verbally or in writing merely underscores a lack of intellect and proper breeding.

[retiredgustav]

The previous administration was well versed in the use of what some people call profane language. I guess they thought they were in a barroom

[tsigili]

Wall Street will NEVER be a good citizen!

[rightbehind]

When the doors and windows of goldman sachs and morgan stanley are boarded up the United States will be well on it's way to economic recovery.

[spaceatoms]

I can't believe that G/S is even in business, they blew all of their cash, gambled on bad debts and got an economic bailout over politics so they could all be Joe's.