U.S. Vice President Mike Pence was mocked and chided by the mainstream media when it was reported that he doesn’t dine alone with women if his wife is not present. The leftists purported that he needed someone there to prevent himself from raping women – and other nonsense like that.
Known as the Pence Rule, it’s a wise strategy, especially in this politically-charged toxic environment, where any woman can destroy a man’s reputation with just one accusation. This is especially true if it’s someone hated as much as Pence.
But it seems Pence is having an effect on other industries, including finance.
The Pence Effect has hit Wall Street, with many professionals adopting a new rule: avoid women at all costs.
From Bloomberg:
No more dinners with female colleagues. Don’t sit next to them on flights. Book hotel rooms on different floors. Avoid one-on-one meetings.
In fact, as a wealth adviser put it, just hiring a woman these days is “an unknown risk.” What if she took something he said the wrong way?
Across Wall Street, men are adopting controversial strategies for the #MeToo era and, in the process, making life even harder for women.
…
Interviews with more than 30 senior executives suggest many are spooked by #MeToo and struggling to cope. “It’s creating a sense of walking on eggshells,” said David Bahnsen, a former managing director at Morgan Stanley who’s now an independent adviser overseeing more than $1.5 billion.
The hoaxes, the false allegations, the lies. You can’t blame men for adopting this strategy.
One wonders if arresting business people lowers prices and encourages people to start companies.