(not satire – it’s the UK today)
In August a young 21-year old intern at Merrill Lynch – Moritz Erhardt – died after being expected to work 72 hours without a break.
Young interns working for top banks like Merrill Lynch are regularly forced to work days – and I mean days – without sleep.
In fact, the practice is so common the interns have a name for it. They call it ‘the magic roundabout’ – a process where they are expected to take a taxi home, it waits outside while they shower and change and it then drives them back to the office to start all over again.
Of course it’s only the young interns who are expected to do this – the real bankers are much too clever to exploit themselves in that way.
But this is not just exploitation of young people.
Under UK law – workers have the right to 11 hours rest between working days (eg if they finish work at 8pm, they shouldn’t start work again until 7am the next day).
So when can we expect to see prosecutions of top Merrill Lynch executives responsible for his death?
After all – bankers are not above the law in the UK. Or are they?
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