Greg has done it. He is now earning more than he would have been earning if he hadn’t exposed the rotten core of ethical detachment at Goldman Sachs. There was a bidding war for the rights to publish Greg’s memoir, and a division of the Hachette Book Group, Grand Central, outbid Penguin to get them.

Greg’s op-ed resignation letter, that earned him $150 from the New York Times, garnered plenty of attention from people all over the world recently.

He very quickly got the attention of publishers, too. The bidding eventually came down to Penguin and Grand Central, with the latter winning with a $1,5 million bid.

Peter Fedorko from NS Bienstock, a “publishing veteran”, had represented Smith.

Greg is said to have described his book as a “coming-of-age” story: it would be his account of someone who came into the business with the best intentions, only to be let down by corporate greed and cold-heartedness.

Greg would include his historical account of how the firm’s culture eroded over the last decade.

There was no announcement on a publication date, but there would be a chance that Hollywood might take notice now because of similar successes like Michael Lewis’ 1989 classic, Liar’s Poker: Rising Through the Wreckage on Wall Street, that was turned into a movie in 1999.

And there was 2011’s Margin Call, which featured an impressive cast that included Kevin Spacey, Demi Moore, and Jeremy Irons.

[Source: NYPost]