Goldman exec quits, calling firm 'toxic'

A Goldman Sachs executive has resigned in a very public manner -- calling the firm "toxic" and disrespectful of its clients in a scathing op-ed piece published in Wednesday's New York Times.

"I can honestly say that the environment now is as toxic and destructive as I have ever seen it," wrote Greg Smith on his "last day at Goldman Sachs," capping 12 years with Wall Street's gilded firm.

In a memo sent to employees, Goldman CEO Lloyd Blankfein and Chief Operating Officer Gary Cohn said they were "disappointed to read the assertions made by this individual that do not reflect our values."