Friday, February 6, 2009

I always wondered why those Wall Street execs "needed" such outrageous salaries

Now we know:
Wall street lawyers, investment bankers, CEOs and media executives often used corporate credit cards to pay for $2,000 an hour prostitutes, according to the madam who ran one of New York's biggest and most expensive escort services until it was busted last year.
Let's just hope that those firms we've been bailing out since the Great American Swindle began last fall are curbing that nonsense. I'm not really surprised that such abuses of organizational resources occur - combine gargantuan salaries with a veritable lack of accountability and one can expect stories like the above.

As an aside, I can't help but notice that the long arm of the law only seemed to reach as far as the madam of the escort ring and not the clients. Wealthy men can expect to walk away from such scandals barely scathed - in our corporate culture, they'd probably be promoted. The sex workers, on the other hand face the full force of the legal system. There's something very wrong about that.

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