Greg Smith’s letter announcing his resignation from Goldman Sachs, published yesterday, may well turn out to be an act of revelatory arson. By Ida Ince.

Greg Smith’s resignation letter in the New York Times yesterday (1), announcing a bridge-burning departure from his position as Executive Director of Goldman Sachs’s Equity Derivatives Division (Europe, Asia, Africa) certainly brought Wall St. to a relative halt.  GS cancelled conference calls and the Goldman Flacks (PR goons) were rounded up to pour scorn on Mr. Smith’s allegations as “unrecognisable”.