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The 'Fearless Girl' statue stands facing the 'Charging Bull' on Wall Street. Photo: Jewel Samad / AFP via Getty Images

Bloomberg's Max Abelson looked at why the #MeToo movement, which has swept through almost every industry nationwide, has yet to make an impact on Wall Street.

Why it matters: Women in finance aren't immune to bad behavior from their colleagues — they too have been grabbed, harassed, humiliated and propositioned — but the industry has been particularly skilled at keeping them from going public. According to Abelson's interview with 20 current and former Wall Street women, they say they have stayed quiet because "they have a lot to lose by speaking out, no certainty about what they’d gain, and legal agreements that muzzle them."

  • Legal implications: Abelson points to Wall Street's increased concern about being brought to court. The industry tries to avoid any legal fallout by having new employees "sign away their rights to sue." As a result women who choose to speak up must do so through a private arbitration system.
  • The amount of money at stake: "People spend their entire educational and professional career trying to get to this pot of gold, and some guy dropping his drawers is not going to get in the way of that,” said Jennifer Hatch, who started her career at J.P. Morgan and is now a managing partner at Christopher Street Financial.
  • The "boys club" culture: Women told Abelson that the industry is so male-dominant that "they worry that pointing fingers would permanently alienate bosses, colleagues, and even rivals."
  • Settlements and nondisclosre agreements, like in other industries, are a very common form of keeping women quiet.

Go deeper

Trump threatens to veto Defense spending bill over social media shield

Photo: Erin Schaff - Pool/Getty Images

President Trump tweeted Tuesday a threat to veto a must-pass end-of-year $740 billion bill defense-spending authorization bill unless Congress repeals a federal law that protects social media sites from legal liability.

Why it matters: Trump's attempt to get Congress to end the tech industry protections under Section 230 of the Communications Decency Act is the latest escalation in his war on tech giants over what he and some other Republicans perceive as bias against conservatives.

The walls close in on Trump

Photo: Tasos Katopodis/Getty Images

With Bill Barr's "Et tu, Brute!" interview with AP, President Trump is watching the walls close in on his claims of fraud, hoaxes and conspiracies.

Why it matters: Trump and his legal team continue to claim election fraud. But the Republican governors of Arizona and Georgia have certified their elections, a loyalist like Barr has weighed in, and lower-ranking officials have taken potshots.

Congress plots COVID pandemic-era office upgrades

oving crates outside Rep. Elise Stefanik's old office Tuesday. Photo: Bill Clark/CQ-Roll Call, Inc via Getty Images

The House plans to renovate members' suites even though staff are worried about an influx of contractors and D.C. is tightening restrictions on large gatherings, some staffers told Axios.

Why it matters: The Capitol has been closed to public tours since March. Work over the holiday season comes as U.S. coronavirus cases spike, Americans beg for more pandemic assistance and food lines grow.