The Madness of Crowds: August 21st, 2009

I didn’t see it coming either.

Yesterday, a friend wrote me: “Did you see this? You got out just in time!” Baffled, I opened the attachment and read an extraordinary press release: “News International proposes closure of the London Paper.”

Immediately, I rang all my contacts at the paper where I’ve been a columnist for the past 14 months, convinced it was a farce, or at least, everyone knew about it beforehand. Astonishingly, this was not the case – the sixty full-time staff were as shocked as a distant, weekly column-writer.

In theory, the paper should have survived. It had a free distribution of 500,000 copies per day, about 100,000 more than its arch-rival, the London Lite. Furthermore, unscientific surveys of my friends who pick up these ubiquitous mass-tabloids indicated that most preferred the London Paper to its rival, and no, they weren’t just trying to flatter me. The LP is widely deemed as younger or cooler than the Lite – a feat not hard to accomplish, with the rival’s draconian design and abnormally bigger font. And it was purple, for god’s sake. What’s not to like?

Like most Murdoch-related dramas, it boiled down to one thing: money. As News International moves toward charging readers for content, an umbrella publication that charges nothing for theirs is toast. The paper took a pre-tax loss of £12.9m in the year to June 2008 – the same month I started my “City Girl” column – so I can only assume those at the top of News Int. have been hoping for a kind of 11th-hour miracle the past fourteen months – one last chance to win over the public’s, the advertisers’ (and even James Murdoch’s) hearts and minds. There was none.

The London Lite will almost certainly follow suit, though it can at least keep the satisfaction of having outlived Murdoch for a couple minutes. But what these papers lack in profitability, or even, respectability, they more than make up for in reach. The sheer number of readers (up to 800,000 per day as people re-read other’s discarded copies on the tube,) means that unlike Bloomberg’s financiers or Vanity Fair’s sophisticates, you never quite know what your readership is, because it was almost everyone: young and old, rich and poor, City Girls and west end girls, City Boys and bus boys. As a tribute to this somewhat trashy, but egalitarian journal, I’ve decided to publish the most thought-provoking reader responses to my “City Girl” column I received over the past fourteen months.

The public's hearts may be fickle, but Murdoch's mind is made up.

1. Sent: 03 August 2009 19:53:58
To: City Girl
Subject: Competition to meet City Girl..
"The real issues that often drive business life - power, money, ego and desire - are usually submerged. I admire the way that City Girl has experimented with these items - and want to help spread her story."

2. Sent: 02 August 2009 12:00:10
To: City Girl
Subject: hello
Hi city girl,
I have enjoyed reading your column for a while now and was particularly delighted by your column last Monday. Over the months I have wondered why you have continued to work in an industry you have little respect for, with people you don’t particularly like and in a role you think is perhaps dishonest?
I work in finance and enjoy working in the industry. I think perhaps you have seen the worst of what the industry has to offer but I do think there are some great things. Finance attracts some of the most academic people from around the world, its incredibly international, its at the forefront of advancements in technology, its probably the biggest recruiter in London and if you excel the monetary rewards can be great. I hope you see some more of the good points with hindsight. I have worked with numerous people who are passionate about their jobs and the industry as a whole. I worried that your column was doing some terrible PR for us at a time when we need all the help we can get!!
Also, I actually prefer it being a male dominated industry! I haven't had any problems, I work with mostly guys and I absolutely prefer it, working with mostly girls would be my nightmare. Male dominated industries may have their problems but female dominated industries sound awful to me, girls being bitchy, catty, I think it would be worse! As I said, I think I have had a favorable experience working in finance, I think the environment in investment banking must be very different.
Anyway, I am glad to hear you are off to pastures new and wish you all the best. I'm looking forward to you revealing your identity tomorrow and following your success in your new career!”

3. Sent: 27 July 2009 22:39:09
To: City Girl
Subject: Exit
City Girl,
I was wondering how long you would last. Your last few articles had been from the outside looking in.
In your role you are either the very model of the wasteful decadent belligerent core or the disapprover.
Recently you have become very much the objective and compassionate voice of disdain.
Maybe now I may be afforded the chance to buy you lunch and flirt outrageously with you!
Thanks for a multitude of wonderful columns, thoughtful pondernace and hearty laughs. “

4. Sent: 21 July 2009 08:40:02
To: City Girl
Subject: a response
In response to your article "everybody is a little greedy", Monday 20th July, well done for admitting you are greedy - it is perhaps the first step towards your rehabilitation. However I should like to suggest that everybody is NOT a little greedy, if everybody was there would be no doctors, nurses, teachers, firemen, policemen, ambulance men, soldiers, social workers (the list goes on). Instead, if your fellow citizens were all as greedy as yourself the country would be full of bankers, property developers and other self-centred types who pursue the acquisition of material wealth for its own sake - and what a nightmare that would be. Please do not assume we are all like you and only jealous of your wealth. This is clearly a futile attempt to justify your own greed and make you feel less guilty about turning your back on the more challenging noble virtues such as cooperation, empathy, loyalty, stoicism and prudence.

5. Sent: 21 July 2009 14:02:56
To: City Girl
Subject: Re your column - Everybody is a little greedy (20/7/09)
Dear City Girl
I enjoy the vast number of your columns, they are often fun, blunt and revealing. However, I must profoundly disagree with your assertion, and I quote:
"We are, in most people's eyes, unambiguously greedy. But so is everybody else. Greed is innate.."
In case I am mistaken, you tarnish society with the same brush as those in your profession. This is not only untrue and unfair but illustrates your myopic way of looking at human nature - you fundamentally miss the point!
I may be greedy, lustful, jealous, etc., but I make choices on how to behave based on my conscience and my interactions with others, and so does everybody else.
We 'choose' to generous as much as we choose to be greedy.
The fact that the City has a high proportion of greedy people is a symptom of the culture and the financial system you work in.
It is not a true reflection of society, or indeed human nature.
I'm sure there is a banker amongst your rank who isn't governed by greed and is actually saving their money for others, charitable giving, good works and perhaps investing in socially and environmentally driven businesses. This person will have real character, and is more interested in being themselves than part of your tribe.
There are two sides to every coin.

6. Sent: 12 May 2009 15:48:49
To: City Girl
Subject: Goldman
Hello City Girl,
I read your article in yesterday's paper and applaud you for your journalistic honesty in stating what is the truth, that they are hard working, loyal, driven people with a touch of energy that is rare.
I worked at Goldman for 6 years, which have to be the best 6 of my working career. Apart from the uniqueness and enthusiasm in which I learnt a great deal, the special bond was that I looked forward to going in every single day. I made some great friends (still in contact) and two 'best friends' and 'bagged a trader!' (we met before we started there).
Twenty three years later (omg), I still have great memories, lots of historically momentus ones (Big Bang) and lots of just plain fun and laughter.

7. Sent: 28 April 2009 06:24:25
To: City Girl
Subject: £150k City jobs
As much I enjoy the thought of reading your article on the way home most evenings, can I please just say that not EVERYONE working in the City is on (or even remotely near) earning £150,000.
People like the street cleaners, the parking attendants, the retail workers and bus drivers. Those of us that keep the City moving but without the praise, acknowledgement or thought from the sour-faced pretentious and sometimes pompous suits that plague the streets with their TM Lewin shirts and M&S socks...
So the fact that your tax is going to be more than 3 of us earn really doesn't upset me.
Being ignored, does.

8. Sent: 16 March 2009 21:19:03
To: City Girl
Cc: Letters & Polls
Subject: 'Stripped of Morals' - City Girl, would you like a dance?
I’m a stripper, or if we want to be coy, an exotic dancer, or if we wish to be French, a stripteause. But what I’m not, and I’m really darned sure about this, is ‘compromising my morals’. And I ain’t nothing like you either. I’m tall, lean, full figured and have huge…eyes. I don’t flatter middle-aged men, I exploit them. I don’t strip cause I’m an uneducated hick whose only credentials are trying out for Britain’s Got Talent or Big Brother. I do it cause I’m damn good at dancing, at teasing, and there is no way I sell my body. I don’t sell sex. I don’t sleep with these men (or women, although not in your case, tight arse) in case you need clarification. I sell an illusion, a strip tease.
Maybe you should try it, you spoilt, city brat. No, of course not – you’d rather hang at Boujis and slash out on £700+ for a bottle of whatever. What a yup! Do you trail around Sloane Street and go to all the respectable places because that is what one does? Or do you actually have a mind thirsting to try different things? What’s so bad about flossing your g-string (if you are truly are tall and slim with huge….eyes) on a pole on stage. See how the adrenaline kicks in when you have an audience and your giving the oldest performance in the world to an adoring crowd. It’s much more exciting then an Excel spreadsheet. I promise you.
The only thing that you and I have in common is that we hide our names. That’s it. I conceal my name not out of shame either, but to add to the mystery. It’s not a garment to be peeled away, it’s a permanent secret – it’s very seductiveness lying in the fact that along with my body, it can never be touched, owned or divulged.
Stop victimising strippers and thinking that such women are ‘compromised’, and did you really actually ask, and I quote, ‘What’s worse’– ‘selling your body or your soul for a living?’ Oh come on, it’s stripping for god’s sake. Last time I checked I was still a one-woman-one-man type of girl with a blinding education. But boy can I dance. And boy can I tantalise. And boy do I have money.
So…..do you fancy a dance, or are you just gonna pontificate cause your life consists of ‘flattering middle aged men?’

9. Sent: 16 March 2009 14:35:56
To: City Girl
Subject: dancing on ice
My dearest CityGirl,
There is something hedonistically intoxicating about your column. As an ex-Cityboy, there is much familiarity about your musings and banter. The intrinsically sexist City is awash with beauty like yourself on a scale unknown beyond its sacred grey walls. Men rule everything, the token successful ladies are always looked on dubiously as to the route of their success and undermined on all sides.
You are delightful, salacious and amusing. There are times I smile warmly at your observations and times when I just want to place you firmly over my knee!
Today's article on lap dancing in the city was one of your finest. The metaphor never stronger, both are dubious, yet the lap dancer is all 'big-eyes' and sleight of hand, deliveringh exactly nothing other than vapourware, yet her skills, sublime and mesmeric move the very basest mettle of the male pshyche. They have the power to make men forget everything, even profits momentarily and absorb them in a trance-like hiatus. By going along with them you became one of the boys, but engagingly gave kudos to their trumped-up status and lascivicious power broking. I am so impressed that you went along, it shows great character and an endearing loyalty. It must have greatly enhanced the boys enjoyment to have you there.
Lapdancers are usually in business through necessity or accident, it is rarely a chosen career path. Most are single mums or foreign poor girls, tricked into the virtues of a better life in a foreign country. Many then have their passports taken and are forced to work and paid in drugs, on which many of them become dependent.
Citygirls are in business through choice, but mainly it is the lure of bagging a successful man rather than a successful career that drives them on.
Both are generally unhappy, and both are unified in their huge consumption of tobacco, drugs, alcohol and pleasures of the flesh.
If you woudl care to correspond with me I will happily give you subjects and frivality for your column.
As a reader I shall continue to enjoy the svelte, elegant, charismatic charm you exude.

10. Sent: 03 March 2009 11:09:37
To: City Girl
Subject: "A Toothless Watchdog"
Dear City Girl.
I have just read your article titled "A Toothless Watchdog" dated 2nd March 2009 and felt compelled to comment on it.
I was surprised at how closely your opinions of the FSA matched mine and reflected my recent dealings with them.
As you correctly stated, the FSA has clearly shown its inability to regulate the City, evidenced by the near collapse of a number of UK financial institutions. The reasons behind this are numerous, but include the one you mentioned, namely the fact that they have been unable to hire staff with sufficient experience, ability or loyalty. Like you, I believed that with their recent recruitment drive, the FSA would be looking to take advantage of current market conditions and hire ex bankers who have inside knowledge of investment banks and how they manage financial risk.
I was a derivatives trader for 11 years and as a result have managed many different financial instruments and currencies and have extensive experience of how investment banks function. I then worked as a recruitment consultant for 2 years, dealing exclusively with financial institutions and placing front office staff. For the past couple of years I have been working as a part-time financial trainer giving courses on the financial industry and financial products, which I researched and wrote myself.
This hands-on experience, together with my degree in law, led me to believe that I would be the type of person the FSA would now be looking to hire. Consequently over the past few months I have applied for 3 different vacancies advertised on their website all of which required candidates to have qualities and experience which seemed to match mine. However, on each occasion I have been immediately rejected with an automated email, which provided no explanation for their decision. Although I clearly understand that I might not be the ideal candidate for any of these roles I am very disappointed that I have not even been asked in for a preliminary interview given my background. After these rejections I came to the conclusion that I was an simply an isolated example whose experience did not match the FSA's requirements accurately enough, but having read your article it would appear that this is not the case.
Like you I feel that if the FSA is going to successfully regulate the financial industry it needs to do a better job than it has done up until now. In order to do this it must recruit people who understand these institutions and the risks they take. They presently have the opportunity to hire such individuals but strangely seem unwilling to do so and despite my requests, they are not prepared to explain the reasoning behind this. In the meantime I shall continue applying for jobs within the FSA, but I'm afraid I do not have much hope left.

11. Sent: 26 January 2009 21:30:44
To: City Girl
In answer to your question - no you will not get saved by a square mile Obama. The city employs/breeds people with absolutely no charisma, charm, witt or compassion. If I look towards my local ladbrokes I would find a more worthy suitor...
Sent using BlackBerry® from Orange

12. Sent: 01 December 2008 23:54:46
To: City Girl
Subject: Yawn
You are most vapid twonk I have had the misfortune to encounter. I accidently read your column and realised exactly why badly dressed androids like you deserve nothing more than the mis-educated dullards you get to marry. I'm sure the conversation is full of weekends with chums, skiing, nice restaurants and the latest trinkette. I'll be happy in a proper life of art, music, friends and half a brain. You're a c**t.

13. Sent: 12 November 2008 19:57:50
To: City Girl
Subject: Superb column on Monday 10 November 2008
Dear City Girl,
I dont know your name, but what you wrote on Monday the 10 November 2008 touched me on a level that a lot of the UK media coverage could not reach.
I was heading home late from work still buzzing from Obama's victory. I picked the paper up off the seat mainly to see what was left of the tv schedules to watch that night. I stumbled on you column and it struck so many cords. I am a black lawyer with many friends in the city and the media. Your opening hook on Greg Dyke referenced the personal experience of friends of mine who work there who find it hideously white. The total lack of numbers is frightening especially given the Diversity brigade who have hardly made a dent in gathering numbers through applications, or retaining black people and propelling them through the glass ceiling to the commanding heights in the media or banking.. We all know the arguments the problems etc - but noone seems to actually deliver change, and worse still very people talk about it. Its good to feel that the 'Obama bounce' produced a witty and powerful indictment on the lack of black representation in the city. You really brought it, and rammed it home!
After university I would go to the odd party or dinner with my city friends. At Oxford I just went with the flow, the music and the company and made some really special friends. Over the years in London I got tired of going to all (or mainly all white) events and struggling to put down a good foot to whatever the poor music choice was. I have given up going to those events and hope that your message gets through to the world of investment banking.
Thanks for putting the issue on your page.

14. Sent: 13 October 2008 18:16:04
To: City Girl
Subject: a huge loss to bear
If you're looking for sympathy from readers for your work mistakes and lack of job security don't bother. You work in an industry that widens the gap between rich and poor and provides little benefit to our society as a whole. You undoubtedly are already overpaid compared to the nurses, teachers, etc in this city who contribute so much more than traders ever will. Maybe you should try a more fulfilling role that helps people other than rich capitalists who have no concern for their fellow man, or experience true poverty and realize that money and the pursuit of it is a waste of time.
Surely you agree there's more to life than supporting multi national corporations who destroy environments and cultures whilst crying in the toilets of a big office where the general mood is one of fear, greed and competitiveness. You only have one life and then never exist again, might as well enjoy it...

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