Matt Levine, Columnist

Wells Fargo Had a Fake Dinner Scandal

Junior bankers tried snagging free Seamless dinners. Whoops.

September 4, 2018 at 8:00 PM UTC

Matt Levine is a Bloomberg Opinion columnist. A former investment banker at Goldman Sachs, he was a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz; a clerk for the U.S. Court of Appeals for the 3rd Circuit; and an editor of Dealbreaker.

Yes, there are downsides to a free dinner.
Photographer: Bloomberg

Provide news feedback or report an error

Site feedback:

Take our Survey

This post originally appeared in Money Stuff.

How much does a typical bank spend on buying dinner for a typical junior banker who works late all the time? Generously assume a $25 allowance, 6 days a week, 50 weeks a year, and you get about $7,500. That is probably too high, though I don’t doubt that there are people who go over.