Bagging Bartiromo–and Paying Dearly For It

Michael Lewis writes on Bloomberg.com about the rise and fall of Todd Thomson, who was once the wunderkind of Citigroup’s Global Wealth Division.

Thomson was fired last month after reports surfaced that he commandeered a company jet to fly CNBC anchorbabe Maria Bartiromo to a conference, and used his marketing budget to sponsor her TV show, among other charges.

Lewis compares the quick firing now to what might have happened back in the day, when the rainmakers like Thomson ruled the roost.

“There is a new deal for the alpha male on Wall Street. He can make his millions, and he can still strut and preen and feel important. What he can’t do is sexualize his financial clout. In the late 1980s it was fairly routine for men on Wall Street trading floors to order up strippers; when a prominent bond salesman was fellated in a conference room just off the trading floor his colleagues were more amused than shocked. Not long ago a pair of Morgan Stanley employees was fired for merely attending a strip club in their off hours. As one of my former classmates put it, “the decorum in the marketplace has changed.”

Todd Thomson’s mistake was that deep down he believed he hadn’t made one. He’s the rooster whose head has been removed but is still flapping around the barnyard, thinking he’s still alive.”