Story 216

To Story 215, Citi knows regulators don’t care because of who is in the White House. I also think its C-suite – especially Jane – gets off on the desperation and sadness in these stories; in their mind, anyone who doesn’t like the place simply isn’t up to snuff.

I do, however, think it makes it harder for them to recruit quality talent. I know of one MD who joined last year from JPM; brought a half dozen directors with him. They are so miserable they don’t even try to hide it. Because quality individuals understand that no amount of money is worth being miserable every day in a dysfunctional environment that plays with your psyche in sick ways.

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