08/11/2008
Citigroup Trader Fired Over Homophobic, Misogynistic Blog
Michael J. McCarthy, a trader at Citigroup has been fired after bosses discovered his offensive website:
"The 35-year-old stock trader was let go earlier this week after his employers realized he was 'Large,' the man of bulk who operates www.takeareport.com, Bloomberg News reported. The McCarthy Website showcases women who manage to look insufficiently dressed along with bawdy commentary on celebrities. 'This employee was terminated for behavior that violated the firm's code of conduct and policies,' Citigroup spokeswoman Danielle Romero-Apsilos said. McCarthy, a vice president, declined to comment on his departure from the New York-based bank. Financial industry regulatory records show he's been at Citigroup for seven years, most recently trading shares of utility and power companies. 'It's a little over the top,' said Barry Ritholtz, director of equity research for New York-based Fusion IQ, who has looked at the site and has his own financial blog at www.bigpicture.typepad.com. 'I can see why a conservative bank is not going to be happy with it. It's funny as hell.' The Website, created in April 2007, consists of commentary about homosexuals, excretory functions, concert reviews and college football picks. The name of the site refers to the Wall Street phrase, 'take a report,' used on trading desks to confirm to a customer that an order had been executed."
Citigroup dumps blogger at large [shanghai daily]
(screencap via pam's house blend)
Posted 1:15 PM EST by Andy Towle in News | Permalink
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I really can't decide if pathetic frat boy humor spewed from a douchebag on his private time is deserving of being fired. One part of me is thinking Yay for Citigroup, but another is thinking that what people do on their own time is their own business--something I think we can all agree on. Unless he was doing the blog at work, this is not really his employer's business, especially since he was using an alias.
But I still hate him.
Posted by: Paul R | Aug 11, 2008 1:33:03 PM
Okay, I'm an HIV positive, bleeding heart liberal faggot. And while I think the blog by 'Large' is clearly written by a misogynistic, homophobic, racist prick, even I don't think he should have lost his job. Unless I missed something, nowhere on his blog does he represent himself as an employee of Citigroup. Instead, he is blogging in his private life under a pseudonym. That should be protected speech.
Posted by: peterparker | Aug 11, 2008 1:47:34 PM
"McCarthy lost his job after Citigroup... determined that he was using his computer at work to access and promote the site, said a person with knowledge of his ouster." --Bloomberg News
Good ridden!
Posted by: Marc in Chicago | Aug 11, 2008 1:48:16 PM
Not sure what their policy was or how he violated. I should hope that anonymous blogging would protect the interests of both parties and satisfy employment policies, though some companies are quite draconian. Blogging on company time though would be a no-no I suppose. Oops.
Posted by: anon | Aug 11, 2008 1:51:44 PM
...so he can sue citigroup if he feels it was wrong for him to be fired...they would obviously like to cut him loose rather than deal with whatever way this plays out in public...
Posted by: yeahisaidit | Aug 11, 2008 1:59:13 PM
It is neither draconian nor confusing. Your company computer and internet access is the property of your employer. PERIOD. Anything you do on that computer is company property, company speech, and company responsibility. If it was on company computer or tme, he's fired. It's really simple.
The part that bugs me is "Barry Ritholtz, director of equity research... 'I can see why a conservative bank is not going to be happy with it. It's funny as hell.' "
Hmmmm, if one of Barry's employees was blogging about 'dirty Jews' i bet he wouldn't find it so funny as hell.......
Posted by: Strepsi | Aug 11, 2008 2:11:20 PM
Oh. I see. I didn't follow the links, so I didn't know he was using company computers to create/promote/access his blog. In that case, way to go Citigroup!
Posted by: peterparker | Aug 11, 2008 2:47:26 PM
If he was on company time I don't want idiots like that holding my finances in their hands.If he didn't do this on company time he should be allowed to fly his idiot flag for the world to see.
Posted by: thevegasstyleguy | Aug 11, 2008 3:35:15 PM
Ive been trying to post a comment on his site for hours and nothing comes up. Please, everyone, attempt to leave a comment!
Posted by: will | Aug 11, 2008 9:58:59 PM
I would enjoy seeing a picture of this fat fuck. (No offense to my zaftig friends.)
Posted by: JohnInManhattan | Aug 11, 2008 10:20:27 PM
Hmmm. A peer at my company mouths homophobic shit and I get fired a couple years ago. Now this guy spouts off and HE gets fired.
Well, I guess there really IS balance in the world, eh?
Posted by: AaronJ | Aug 12, 2008 4:43:19 PM