Wall Street and the 'Mad Men' Allegations

Pointing The Finger

Goldman Sachs won a huge victory last week.

A federal court ruled that Lisa Parisi, a former Managing Director, must take her gender-discrimination lawsuit against the firm to arbitration.

Bloomberg View columnist Margaret Carlson writes:

With the ruling, Parisi - who had sued Goldman in 2010, along with two other women - can kiss her chances of victory goodbye. Arbitration is where plaintiffs' dreams go to die, which is probably why it was in her Goldman Sachs employment contract.

These plaintiffs aren't renegade feminists. They're mainstream financial types who played by the rules and hoped to reap the rewards. The men who fought them are simply corporate types who prefer to keep Wall Street an old boys' club.

Some of the allegations in the suit are straight out of 'Mad Men'. During their work at Goldman Sachs, the women were (allegedly) subjected to sexual banter, which is what passes for conversation among traders, as well as to come-ons and sexual assaults. They were (allegedly) passed over for promotions and bonuses, excluded from some male outings and included in others designed to embarrass them. A celebration for new Managing Directors is said to have been held at a topless bar. Afterwards, a married male colleague (allegedly) pinned one of the plaintiffs to a wall and sexually assaulted her.

Hit the link below to access the complete Bloomberg article:

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Margaret Carlson is a Bloomberg View columnist appearing on Wednesdays. A former White House correspondent for TIME, she was also TIME's first woman columnist. She appeared on CNN's Capital Gang for 15 years.

A Bloomberg political columnist since 2005, Carlson has won two National Headliner Awards as well as the Belva Ann Lockwood alumni award from George Washington University Law School. She serves on the boards of the German Marshall Fund and The Newseum.

A former editor at The New Republic, Carlson has been a fellow at Harvard University's Institute of Politics, a Poynter Fellow at Yale University and a journalist-in-residence at the University of Notre Dame. She earned her bachelor's degree from Penn State University and a law degree from George Washington University Law School.

image: © Lisamarie Babik

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