# Prof. Roy Smith on bond underwriters

1 Faculty News February 27, 2013 ![Bloomberg logo](/sites/default/files/styles/246w/public/assets/images/bloomberg192x144.jpg?itok=yV529lwz)>

Excerpt from [Bloomberg](http://www.bloomberg.com/news/2013-02-27/wall-street-junk-kings-selling-debt-poised-to-lose-value.html) -- “'They’re intermediaries, and they’re not supposed to make up their minds for their customers as to what’s good for them, they’re supposed to supply them with what they want,' said [Roy Smith](http://www.stern.nyu.edu/faculty/bio/roy-smith), a finance professor at New York University’s Stern School of Business and a former Goldman Sachs partner."

[Read more](http://www.bloomberg.com/news/2013-02-27/wall-street-junk-kings-selling-debt-poised-to-lose-value.html)