Home > Terms > English, UK (UE) > Muppets
Muppets
A term used by Goldman Sachs staff to refer to the bank's clients, or stupid people as the puppet characters created by Jim Henson in the 1950s. In an essay published by the New York Times, Greg Smith, who resigned as an executive director after spending 12 years at the company, accused Goldman Sachs of engaging in blind pursuit of profits at the expense of its clients' best interests. According to Smith, a number of senior executives openly called their clients "muppets". He also blamed the company's management for a steady decline in the firm's moral standards.
After the publication of the essay, Goldman Sachs' shares dropped 3.4 percent in New York trading the next day, which was the third-biggest decline in the 81-company Standard & Poor's 500 Financials Index.
- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Banking
- Category: Investment banking
- Company:
- Product:
- Acronym-Abbreviation:
Other Languages:
Member comments
Terms in the News
Featured Terms
Dollhouse furniture
Any of several pieces of miniature furniture usually made of wood or plastic, used especially as an accessory to a dollhouse.
Contributor
Featured blossaries
marija.horvat
0
Terms
21
Blossaries
2
Followers
Essential English Idioms - Advanced
Browers Terms By Category
- Air conditioners(327)
- Water heaters(114)
- Washing machines & dryers(69)
- Vacuum cleaners(64)
- Coffee makers(41)
- Cooking appliances(5)
Household appliances(624) Terms
- Economics(2399)
- International economics(1257)
- International trade(355)
- Forex(77)
- Ecommerce(21)
- Economic standardization(2)
Economy(4111) Terms
- Cheese(628)
- Butter(185)
- Ice cream(118)
- Yoghurt(45)
- Milk(26)
- Cream products(11)
Dairy products(1013) Terms
- Manufactured fibers(1805)
- Fabric(212)
- Sewing(201)
- Fibers & stitching(53)
Textiles(2271) Terms
- Hats & caps(21)
- Scarves(8)
- Gloves & mittens(8)
- Hair accessories(6)