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TRADING PLACES

The New Yorker

December 15, 2025

The ex-bankers behind HBO's "Industry" are the latest British élites to dramatize their own kind.

- BY REBECCA MEAD

Konrad Kay and Mickey Down, the creators of "Industry," have been friends ever since meeting at Oxford University, where they focussed more on going out than on studying.

Clwb Ifor Bach, a night club in Cardiff, the capital of Wales, is the kind of venue whose sticky floors hold generational memories of first intoxications. One evening in July, about a hundred young people lined up outside—girls in crop tops and short skirts, boys in baggy pants and tees. Once admitted, they gathered in knots on the dance floor, holding drinks in plastic cups. This was not a typical night out, though: the assembled had responded to a casting call and were about to be extras in a charged scene for Season 4 of “Industry,” the HBO drama about the world of finance and associated realms of power.

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The New Yorker

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I first encountered Mary McCarthy not through her novels or criticism but through her political reporting. A former editor recommended that I read “The Mask of State: Watergate Portraits” before covering Paul Manafort’s arraignment in 2017. (Were we ever so young?) I loved McCarthy’s witty cameos of malefactors—behold Maurice Stans, Nixon’s erstwhile Secretary of Commerce, “a silver-haired, sideburned super-accountant and magic fundraiser, who gave a day-and-a-half-long demonstration of the athletics of evasion, showing himself very fit for a man of his age.” McCarthy’s sentences were like mousetraps, snapping shut on both visual information and something deeper, the kind of quintessence that fictional characters possess and that we often long for real people to have, too.

2 mins

December 15, 2025