Taibbi offered some interesting background on his piece, which has drawn the ire of the Goldman PR department and been something of a sensation in the financial blogosphere. Specifically, he expounds on what he sees as a tectonic shift in the culture of Wall Street in the 1990s. After investment banks became publicly traded companies, Wall Street became obsessed with short-term profits.
"I think what happened was that Wall Street traditionally had at least a minimum level of societal concern and ethics, and that just disappeared in the mid-90s. And now its completely gone."