# Prof. Roy Smith on how the culture on Wall Street has changed

1 Faculty News March 15, 2012 ![Bloomberg logo](/sites/default/files/styles/246w/public/assets/images/bloomberg192x144.jpg?itok=yV529lwz)>

Excerpt from [Bloomberg](http://www.bloomberg.com/news/2012-03-15/goldman-stunned-by-op-ed-loses-2-2-billion-for-shareholders.html) -- "NYU’s [Smith](http://www.stern.nyu.edu/faculty/bio/roy-smith) ... said Wall Street’s culture has changed because trading has become a more important source of revenue than the fees banks get from advising companies on takeovers or financing."

[Read more](http://www.bloomberg.com/news/2012-03-15/goldman-stunned-by-op-ed-loses-2-2-billion-for-shareholders.html)