LGBT Rights on Wall Street Essay -- Wall Street, Employee, Trends

Two important trends facing Wall Street argon its expansion of LGBT employee rights over the past decade and its entrance into non-traditional banking centers. These trends are interrelate and deeply affect the LGBT community. As Wall Street has greatly meliorate its treatment of LGBT employees, it has an opportunity to share this judge attitude as it expands into in the raw markets. The 1980s were notorious for rampant homophobia on Wall Street, where traders routinely screamed sissy on the trading floor and a closeted culture prevailed throughout firms. In 1983, a small group of festal bankers formed an anonymous concomitant group entitled the impudently York Bankers Trust. Bankers Trust meetings were held in private homes and mailings were communicate to Mr. and Mrs. because many closeted male bankers pretended to be married to women.This homophobic macho-driven culture continued throughout the 80s and 90s, even as society became more accepting of gays and lesbians. In 19 99, there was one openly gay member of the 1,365-member New York Stock Exchange. And although many banks had, on paper, banned discrimination based on sexual orientation, a 1999 article in the New York Magazine account widespread discrimination, lawsuits, fear of torture and underrepresentation of openly gay men and women. afterwards the turn of the millennium, things began to change. Quickly. In 2002, J.P. Morgan led the way and was the first bank to aim a perfect score on HRCs Corporate equality Index. In 2003, Lehman Brothers joined. In 2004, Deutsche Bank, Citi, UBS, Wells Fargo, and Goldman Sachs joined. The dam had been broken. A 2006 Bloomberg article remark this change and suggested a few important catalysts societal changes, such as same-sex marriage,... ...s in these areas. I believe that if banks offer LGBT benefits, citizens will see these policies and act positively through the political process to promote gay rights. beyond offering equal benefits, banks can tak e the next step and babble out where they see injustice, as they have done in the linked States. Gay rights do not exist in a vacuum. legion(predicate) articles I read linked the decline in sexual harassment toward women with the acceptance of gays and lesbians in the workplace. Similarly, in many countries where gays and lesbians are imprisoned or executed, women are treated as second-class citizens, subject to female genital mutilation and high illiteracy rates. As banks have promoted gay rights in their topical anesthetic regions, such as New York State, they can work to expand gay rights in new markets. This is an important mission for banks and I want to be part of it.