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Lawsuit Claims Bad Language is Cool on Wall Street
By
Jen Chung
Published Oct 25, 2008
Modified Oct 25, 2008
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By
Jen Chung
Published Oct 25, 2008
Modified Oct 25, 2008
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C is for many things, include chutzpah: A man who was fired for calling another broker the c-word is suing his old boss for $50 million. Kai Kemnitz, who was hired from Deutsche Bank in 2006 for $2.7 million a year was sacked in 2007 after the incident. According to Bloomberg News, the word was uttered during a "high stress trade": He was mad the broker didn't have a buyer for some Wachovia options, forcing Kemnitz to sell them at a lower price and say, "How can this happen?... You own it (obscenity)." Kemnitz believes Jeffrey Michaels, who also said he'd help him get a green card, was looking for an excuse to get rid of him, according to his complaint. Kemnitz said, "The use of obscenities were common, especially given that all manner of foul language is frighteningly common on trading floors, including those at Lehman and other investment banks."
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c word
lawsuit
lehman brothers
swear word
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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Gothamist is funded by sponsors and member donations
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