The one thing you can say about Bloomberg News is that they’re not afraid to get service-y. Case in point: Michael Lewis’s op-ed piece from yesterday, offering the bit of advice Todd Thomson only wishes he’d had a few months (/decades) earlier. Think of it as Bloomberg’s way of saying, “Hey John Mack and everyone else who’s been contemplating pulling a TT—if you’re going to do this, do this right”:
[Thomson’s problem is that] he was thinking, in other words, a lot like a man in his position circa 1985 might have thought. The man's impulses were still designed for an age when, if you were a big enough hitter at a big Wall Street firm and you were caught in what appeared to be a dalliance with a prominent female journalist you got not a pink slip but a standing ovation. Even if you had used the corporate jet to pull it off.
If you unfortunately happen to be reading this after 1985, and would still like to partake in some TT-inspired activities, Lewis strongly advises you to get rid of the she-devils:
You're fired, also, because while the CEO might be able to rationalize your behavior to his male subordinates, or at least cow them into submission, he can't begin to explain it to the women in the firm. And, suddenly, there are a lot more of them around, in senior positions, who will make sure that the scandal, left unaddressed, finds its way into the newspapers. (Prince replaced Thomson with Sallie Krawcheck.)
Thomson, Bartiromo and Victorian Wall Street [Bloomberg]