NEW YORK (TheStreet) -- You know pop culture's come a long way when Ellen's coming-out party can be, primarily, a marketing event. But Wall Street still looks like it is far from seeing the earnings potential of gay people. Because on much of the Street, still, people can be openly gay only at risk to their careers.
This is not a pretty story.
In 1994, Mark Anderson, then 32, was hired as a trading assistant for Cantor Fitzgerald, though his background wasn't that of a typical trader. He'd played on the championship UCLA Volleyball Team for four years and majored in history, but never graduated. Since college, he'd been working as an interior decorator. Anderson was looking for a change when he got a call in his West Hollywood apartment from a childhood friend, now a Cantor trader. Anderson was urged to apply for a trading assistant job and after two interviews got the gig. The payoff was potentially huge; million-dollar-a-year traders are not uncommon at Cantor. "If you're not making $500,000 a year, you're fired," says Anderson. "I thought that if I could just make it through the training, I was in." But Anderson didn't take into account the hazing that he'd have to endure. On his second day of work, a lewd picture was posted on the office bulletin board. According to a lawsuit filed with the California Superior Court on March 4, 1996, the photo depicted "a man performing oral sex on another man in front of him while simultaneously being the subject of anal intercourse from another man behind him. [Anderson]'s photograph was superimposed on the man in the middle." Underneath the picture was scrawled a note explaining that Anderson would provide "good service to our bisexual clients." His picture, he says, had been purloined from his new Cantor Fitzgerald ID card. "I tried to rip it down and I was told that if I ripped it down, I was fired," says Anderson. "Those rules were understood there." About three weeks later, while chowing down on a BLT, Anderson sensed a foreign object in his sandwich. He peeled apart the slices of sourdough bread to discover "a pink rubber vagina with hairs on it," he says.
"I don't know if they were pubic hairs or armpit hairs on it, but I threw the whole thing on the ground."
Anderson says that the crowd around him -- including the partners, traders, senior sales staff and Senior Vice President William Rice, head of sales trainees -- all broke out into laughter, and one muttered, "This might be the only time this guy eats pussy." But Anderson stuck through it all. He says he suffered through a phony resume posted in the lunchroom citing his earlier work as "a fluff guy" for the porn producer of Diesel Dicks; the recommended tonsillectomy to make room for more "leading men"; his job as a "boy Friday" for a surfboard tycoon "polishing sticks."
Anderson says he even suffered through the job after a senior partner urinated on him through the cracks of a closed toilet stall.
"Actually, the worst of it was all the spitballs and snot balls they'd shoot at me all day," he says. "It got to a point where my shirt was soaking wet, but if I got up and complained, I'd be fired." Anderson thought his only hope for deliverance was passing his Series 7 brokerage test in the fall of 1994, so he could become a full-fledged member of the trading tribe. "I thought, 'I'll get through this B.S. from these assholes, and then I'll be making the money,'" he says. "I'll suffer for a year and then move on." But as he was preparing for his test, Anderson says that on slow trading days, Rice and other partners would stand in front of him and bet thousands that Anderson would fail. Nonetheless, in December 1994, he passed. But he says the hazing continued unabated. In May of the following year he got a reprieve when he was sent to New York for some training in over-the-counter trading (the Los Angeles office only dealt with listed trades). "The New York office had a different culture," says Anderson. "It was still sick, but not quite so depraved." Anderson was put up in a spacious suite in the Hotel Pennsylvania across from Madison Square Garden. But he found that partners at Cantor's One World Trade Center office on the 104th floor had plans for his hotel room. "In the office one day, a partner introduced me to three girls from Pitt," says Anderson. "He said they were bisexual and they would be staying with me." Anderson says that various partners wined and dined the girls for the next week, taking them to New York hot spots like Tavern on the Green and having sex with them in his hotel room. During this stay, Anderson says he got a call from Rice's assistant. "She said she needed my car keys because they were repainting the garage in our office building," says Anderson. Further, he says, he was asked to stay in New York for an extra week and to meet the office at the big, biennial sales meeting of Cantor Fitzgerald in Dallas.
What followed was truly amazing, even by Cantor standards, and it was all captured on videotape.
As graphically described in an article in Los Angeles magazine, the homemade video shows Rice and senior partner Shawn Blakeslee wearing paper bags over their heads with crudely drawn cartoon faces of a black man with curly hair. "We be doin' dis and shit!" Rice says, mugging for the camera in the Cantor Fitzgerald garage. In the next shot, Rice and Blakeslee are seen driving out of garage in Anderson's silver 1978 Alfa Romeo. The next scene also takes place in the Cantor garage, where senior partner Bill Malcolm is wearing the paper "blackface" and trader Jonathan Blum is in a paper bag styled as the caricature of an Asian face. Then they pan to Anderson's car, which has received a factory paint job -- except that the car is now black and white, like a police cruiser. On the body of the car are bold antigay statements like "Poo Stabber," "Rump Ranger," "Fudge Packed Here" and "1-800 Butt Boy." As the video fades to black, Rice is seen mocking the Hispanic garage attendant who was charged with guarding Anderson's car. At the Dallas sales meeting, with virtually the entire worldwide sales staff and senior management in attendance, Los Angeles says "the tape was introduced as a new training video for desperate young brokers who could obtain business by soliciting the homosexual community of Los Angeles." As the entire room broke out in laughter, Anderson in his assigned seat was blown away.
"They made hundreds of copies of that tape," he says. "And passed them out to everyone, other traders, clients. You know how Wall Street is, everyone's seen this thing."
Continue reading here:
'Coming Out' on Wall Street
- Journey Through the Spectacular Interiors of Katherine Bryan - Galerie Magazine - November 21st, 2024 [November 21st, 2024]
- 26 Chic Target Products That Will Make People Think You Hired An Interior Designer - BuzzFeed - November 21st, 2024 [November 21st, 2024]
- Designing with purpose: Mehnaz Khan uses color psychology to transform spaces, minds - Times Union - November 12th, 2024 [November 12th, 2024]
- 7 gift ideas for Tampa Bay hosts this season - Tampa Bay Times - November 12th, 2024 [November 12th, 2024]
- An interior designer shares 10 things she would never have in her own living room - Business Insider - November 12th, 2024 [November 12th, 2024]
- Color of the Year 2025: These Are the Colors Paint Companies Predict Will Rule Interiors - Architectural Digest - November 12th, 2024 [November 12th, 2024]
- 9 Home Trends Designers Can't Wait To Leave Behind In 2025 - Southern Living - November 12th, 2024 [November 12th, 2024]
- This Cozy Home In The Forests Of France Is Natural Design At Its Best - mindbodygreen - November 4th, 2024 [November 4th, 2024]
- 5 Home Trends That Are Cringe-Worthy (But You Probably Have Them) - Brit + Co - November 4th, 2024 [November 4th, 2024]
- Rivals Delights in How the Other Half Lives (and Sleeps) - IndieWire - November 4th, 2024 [November 4th, 2024]
- 15 Dark Green Paint Colors That Set a Soothing Atmosphere - House Beautiful - November 4th, 2024 [November 4th, 2024]
- Ten Interior Design Trends From Dallas's Biggest Decor Event of the Year - Texas Monthly - October 28th, 2024 [October 28th, 2024]
- This Living Room's Sofa Was Inspired by One in a Parisian Chanel Store - Veranda - October 28th, 2024 [October 28th, 2024]
- A spare room so pretty and charming that youll wonder why yours isnt as perfect - Country Life - October 28th, 2024 [October 28th, 2024]
- A Seat in This Aubergine Room Is the Hottest Reservation in Town - Veranda - October 28th, 2024 [October 28th, 2024]
- I'm an interior decorator. Here are 8 things I would never get at West Elm. - Business Insider - October 17th, 2024 [October 17th, 2024]
- AD PROs 2025 Interior Design Forecast Is Almost HereRegister Now for the Virtual Reveal - Architectural Digest - October 17th, 2024 [October 17th, 2024]
- Property from the collection of Robert Couturier: 'I love the life of objects and their stories, but I have never wanted to be limited by them' -... - October 17th, 2024 [October 17th, 2024]
- Inside Two of the Most Incredible Homes I've Ever Seen - Harper's BAZAAR - October 17th, 2024 [October 17th, 2024]
- Interior Decorators Shared The Things They Would Never Do In Their Own Homes And You May Be Guilty Of A Few Of These - Yahoo Lifestyle UK - October 17th, 2024 [October 17th, 2024]
- Dollar Tree shoppers are clearing shelves for $5 fall floral decoration thats identical to Michaels but 8... - The US Sun - October 17th, 2024 [October 17th, 2024]
- Ral Bravo: From Real Madrid to Leeds United... to getting up at 5.30am for career as interior designer - Sport Witness - October 17th, 2024 [October 17th, 2024]
- Savor This Restaurant Embracing The Bright Palette Of Southern Italy - Interior Design - October 9th, 2024 [October 9th, 2024]
- Exclusive | Justin Timberlake was out with pal, celebrity interior decorator Estee Stanley night of DUI arrest - Page Six - October 9th, 2024 [October 9th, 2024]
- Here's How Designers & Design Businesses are Supporting Hurricane Helene Relief - Veranda - October 9th, 2024 [October 9th, 2024]
- The Best Artificial Christmas Trees, According to People Whose Taste We Trust - New York Magazine - October 9th, 2024 [October 9th, 2024]
- 6 Things Interior Decorators Never Do In Their Own Homes - HuffPost - October 9th, 2024 [October 9th, 2024]
- How an Aussie interior designer made a new life in the Cotswolds - The Times - October 9th, 2024 [October 9th, 2024]
- Mary-Kate and Ashley Olsen Find a Home for The Row in Paris - Vogue - September 29th, 2024 [September 29th, 2024]
- Interior-design experts share the 12 kitchen trends you'll probably regret in a few years - Business Insider - September 7th, 2024 [September 7th, 2024]
- How to Decorate with Cosmic Cobalt, According to Designers - Veranda - September 7th, 2024 [September 7th, 2024]
- How to find the perfect interior designer or decorator for your dream home makeover - Yahoo Life - August 25th, 2024 [August 25th, 2024]
- Chatting with the Interior Designer of the 2024 St. Jude Dream Home - WSET - August 25th, 2024 [August 25th, 2024]
- 22 Brooklyn Interior Designers to Know From the AD PRO Directory - Architectural Digest - August 25th, 2024 [August 25th, 2024]
- We Asked Interior Designers To Share Their Favorite Fall Decor Picks, Starting At $10 - Southern Living - August 25th, 2024 [August 25th, 2024]
- Wendy Glaister is named a finalist for HGTVs Design of the Year - EIN News - August 25th, 2024 [August 25th, 2024]
- The House That Saved the 2024 Kips Bay Decorator Show House Dallas - PaperCity Magazine - August 17th, 2024 [August 17th, 2024]
- 6 Things Interior Designers Say They Would Never Buy - Southern Living - August 17th, 2024 [August 17th, 2024]
- 30 New Design Books That Are Worth Adding to Your Cart ASAP - Veranda - August 17th, 2024 [August 17th, 2024]
- 6 Clever Design Ideas Worth Revisiting From This Seasons Decorator Show Houses - Architectural Digest - July 6th, 2024 [July 6th, 2024]
- You can pay to put a virtual house on Snapchats map - The Verge - July 6th, 2024 [July 6th, 2024]
- The Tool an Interior Decorator Uses to Hang Pictures Easily | The Strategist - New York Magazine - May 18th, 2024 [May 18th, 2024]
- 5 Old Decorating Ideas We Wish They'd Bring Back - Architectural Digest - May 18th, 2024 [May 18th, 2024]
- What Not to Miss at the Inaugural Design Miami Los Angeles - Architectural Digest - May 18th, 2024 [May 18th, 2024]
- Why the 'Granny Flat' Is the Next Big Home Amenity - Architectural Digest - May 18th, 2024 [May 18th, 2024]
- SKITTLES LITTLES: Don't Just Taste The Rainbow Live In It With New Space Designed By Interior Decorator Dani Klaric - Culturess - May 6th, 2024 [May 6th, 2024]
- See Every Room Inside the Kips Bay Decorator Show House New York 2024 - Architectural Digest - May 6th, 2024 [May 6th, 2024]
- Im a top New Jersey interior designer items you shouldnt spend too much on & my go-to spots to shop on... - The Sun - May 6th, 2024 [May 6th, 2024]
- Skittles Is Giving Fans the Chance to Live in This Colorful Micro-Apartment Rent-Free for a Year - Yahoo Lifestyle Australia - May 6th, 2024 [May 6th, 2024]
- The 12 Cringiest Home Decor Trends, According to YouTubers and TikTokers - Architectural Digest - April 8th, 2024 [April 8th, 2024]
- Home Design Trends That Need To Make A Comeback - BuzzFeed - April 8th, 2024 [April 8th, 2024]
- 23 Best Austin Interior Designers on the AD PRO Directory - Architectural Digest - April 8th, 2024 [April 8th, 2024]
- This neglected 1840s townhouse had been a run-down rental for over 40 years | - Homes & Gardens - January 5th, 2024 [January 5th, 2024]
- This Interior Designer's Own Apartment is Elegant and Luxurious Yet Surprisingly "Life-Proof" Too - LivingEtc - January 5th, 2024 [January 5th, 2024]
- 9 Kitchen Design Trends to Leave Behind in 2023, According to Interior Designers - Yahoo Life - January 5th, 2024 [January 5th, 2024]
- "You Dey Active Everywhere": Lady Who's a Tailor, Caterer, Event Planner, Interior Decorator Trends - Legit.ng - December 11th, 2023 [December 11th, 2023]
- Sex Story: The Divorce Who Wants to Seduce Her Trainer - The Cut - November 16th, 2023 [November 16th, 2023]
- You'd Never Guess Where This Renter's "Secret" Storage Spot Is - Yahoo Life - November 16th, 2023 [November 16th, 2023]
- Montgomery County Retired Teachers Association - Journal Review - November 16th, 2023 [November 16th, 2023]
- Designers Can't Get Enough of These Interior Paint Color Trends for ... - Southern Living - November 16th, 2023 [November 16th, 2023]
- Meet the professional Christmas tree decorator who makes 2k to pay for her entire festive season - Yahoo Lifestyle UK - November 16th, 2023 [November 16th, 2023]
- 10 LGBTQ+ Designers Who Could Replace Bobby Berk On 'Queer Eye' - Yahoo News - November 16th, 2023 [November 16th, 2023]
- This Emily Henderson-approved bedroom is endlessly cozy | - Homes & Gardens - November 16th, 2023 [November 16th, 2023]
- Kourtney Kardashian's dining room reinvents the gallery wall | - Homes & Gardens - November 16th, 2023 [November 16th, 2023]
- Does a living room need a coffee table? Experts weigh in | - Homes & Gardens - November 16th, 2023 [November 16th, 2023]
- Do you need curtains? Designers explain when you can go without ... - Homes & Gardens - November 16th, 2023 [November 16th, 2023]
- The history of the folding screen unfolds in a Milan exhibition - Financial Times - November 16th, 2023 [November 16th, 2023]
- Mary Fitzgerald Is the Heart of 'Selling Sunset' Season 7 - Collider - November 16th, 2023 [November 16th, 2023]
- Inside the Superyacht Princess Diana Vacationed on With Dodi Fayed - ELLE Decor - November 16th, 2023 [November 16th, 2023]
- ABC home renovation show set to outclass The Block and Dream ... - The New Daily - November 16th, 2023 [November 16th, 2023]
- 6 things we want to see in Grand Theft Auto 6 - Stuff - November 16th, 2023 [November 16th, 2023]
- Interior Designer vs. Interior Decorator: Whats The Difference? - March 24th, 2023 [March 24th, 2023]
- Online Interior Decorator School | Penn Foster - March 24th, 2023 [March 24th, 2023]
- Public procurement: Share of goods bought from MSMEs hits new high in FY23; benefits this many sellers - The Financial Express - March 24th, 2023 [March 24th, 2023]
- Taylor Swift's House Has a Koi Pond, But She Really Wanted Stingrays - Showbiz Cheat Sheet - August 20th, 2022 [August 20th, 2022]
- 'Feud: Capote's Women': How Does the Cast Compare to Their Real-Life Counterparts? (PHOTOS) - TV Insider - August 20th, 2022 [August 20th, 2022]
- Designing Inclusive Spaces for Kids With Special Needs Goes Back to the 5 Senses - Domino - August 20th, 2022 [August 20th, 2022]
- Denmark Is Looking For Workers From Other Countries to Fill in These Jobs - SchengenVisaInfo.com - SchengenVisaInfo.com - August 20th, 2022 [August 20th, 2022]
- International Towing & Recovery Hall of Fame and Museum parked in Chattanooga - Wilson Post - August 20th, 2022 [August 20th, 2022]
- From Hairdressers to Chefs: The 12-Hour Live Performance Documenting the Working Lives of the People of Manchester - Manchester's Finest - August 20th, 2022 [August 20th, 2022]