The Dangers of Working While Black on Wall Street

Wall Street firms have been rushing to making commitments to racial justice since the death of George Floyd, but how do the same firms behave when a Black employee comes forward to complain about racism? The answer is discouraging. Black people who complain have been ostracized, harassed, threatened and fired after speaking up. And when they have their cases heard in Wall Street’s private arbitration forum, they lose almost all of the time. I wrote about these issues in an article for The Nation, published today.

You can read it here.

Angry Twitter Users Make Day Even Worse for Online Brokers

As if a turbulent day for stocks wasn’t problem enough for investors, glitches in the websites of many brokerage firms added to the public’s headaches today.

Testy customers took to Twitter to blast their brokerage  firms and mutual fund companies for Web sites that had crashed, leaving them unable to execute trades in a volatile market.

As always, euphemisms abounded. Brokerage firm spokespeople said they had “a slowness issue,” or “a brief period of sporadic Web site inaccessibility,” and the like. But a crash? Not us.

Investors weren’t buying it. “@TDAmeritrade seriously? your servers are crashing today,” wrote one customer. And another: “What a disaster. Time for a new broker.”

You can read my article for TheStreet here.