Explaining Southern California's economy

Actually, the Muppets ARE Goldman Sachs clients

Premiere Of Walt Disney Pictures' "The Muppets" - Arrivals

Frederick M. Brown/Getty Images

That's not a Goldman Sachs executive behind the wheel.

Yesterday's big news in the financial world wasn't Apple stock climbing above $600 per share — it was the op-ed resignation letter to end all resignation letters penned by former Goldman Sachs executive Greg Smith, in which he savaged the Vampire Squid and accused it of betraying its clients. 

According to Smith, Goldman clients aren't clients — they're routinely referred to as "Muppets."

Goldman lost $2 billion of market value in a hurry as the news circulated through the Muppet Theater.

No word on whether there is or ever has been a Vampire Squid Muppet in the works. They've already got Count von Count, after all. You could probably just add a few more arms and a blood funnel.

However, it turns out that calling clients Muppets, in Goldman-speak, isn't necessarily the insult that it sounds like at first. Because the Muppets are Goldman clients. I'm not kidding.

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