So here’s a classic October surprise in Pennsylvania! Although the book with this information has been out there for months, no one really mentioned it until the race between Sen. Bob Casey and Dave McCormick tightened up. Via WHYY:
Katina Stefanova left the Connecticut-based hedge fund Bridgewater Associates under strained circumstances. The former high-ranking executive had alleged that she’d been sexually assaulted by a senior staff member at the office, publicly humiliated and effectively pushed out of the firm while it was led by then-president of the company, David McCormick, the Republican nominee running to represent Pennsylvania in the U.S. Senate.
Stefanova’s account is detailed in an explosive book by New York Times business investigative reporter Rob Copeland, “The Fund: Ray Dalio, Bridgewater Associates, and the Unraveling of a Wall Street Legend,” in which McCormick is also heavily featured.
The book, published in December 2023, describes how McCormick intimidated Stefanova at a meeting at a diner to ensure that she stayed quiet. When Stefanova protested, McCormick reportedly leaned in and said, “Maybe the issue is that you aren’t being a supportive public presence for us,” a posture and a statement she took as threatening.
Ooo! Finance bros just love pretending they’re in The Godfather! “Nice little career you got there, a shame if something happened to it.”
A former senior executive of Bridgewater who worked directly with McCormick, confirmed to WHYY News that, under McCormick’s watch, the employees worked in “a toxic fear-based culture with a lot of intimidation, recriminations, and backstabbing.”
A different more junior employee referred to the work environment as a “dystopic science fiction novel.”
In his campaign, McCormick has said he’d bring his work as a successful businessman to Washington to “reign in government spending” and “exercise fiscal responsibility.” And the same suckers who think we need to “run government like a business” always fall for it!
