Here's how the Wall Street moguls like to spend their money.

[PLC1]

Wall Street CEOs, investment bankers charged prostitutes on corporate cards, madam says

Investment bankers racked up $100,000s in prostitution charges
Visa, Mastercard or American Express? Or maybe a credit card from JP Morgan Chase?

Wall Street CEOs, lawyers, bankers and media executives chalked up thousands of dollars in prostitution charges on their corporate credit cards -- swiping their cards for $2,000 an hour prostitutes, according to a New York madam who pleaded guilty last year.

No wonder they need a bailout.

 

[Andy]

Wall Street CEOs, investment bankers charged prostitutes on corporate cards, madam says

No wonder they need a bailout.

Careful now. Looks like you rushed to judgment before reading the whole thing.

* a vice president of NBC Universal (owned by General Electric)
* the part owner of a Major League Baseball team who "loves Kelsey"
* the CEO of one of the country's largest private equity firms who met "Cameron" at the Peninsula Hotel
* a major New York real estate developer who, according to the list, "will come to the door wearing women's panties"
* a partner at the Wall Street law firm Cravath Swaine Moore "looking for a party girl to come fully equipped" and spent a total of $20,000
* an investment banker from Lehman Brothers who saw "Kelsey and Keely together" and later saw "Aria and Skyler at the same time"
* an investment banker at JP Morgan Securities who "loves Brooke" and spent $41,600
* an investment banker at Goldman Sachs who "only wanted all-American girls" and spent $27,000
* a managing director from Merrill Lynch who saw "Lana" using the name "Nataly"
* a managing director from Deutsche Bank "who called about seeing Nataly again"

ABC said in their broadcast that for the individuals mentioned above, they could not confirm that the payments were made on corporate cards.

There's no indication that they charged their services to the company, or that our bailout had anything to do with it.

More importantly, we shouldn't be giving out tax payer money to begin with, regardless of what bankers do with their money in their personal time.

 

[poptart]

Well they get multimillion dollar bonuses. They got to spend it somehow.

 

[HankHill]

Look! I found little baby CEO's. Aren't they so cute before they grow up and get bonuses.

 

[PLC1]

Careful now. Looks like you rushed to judgment before reading the whole thing.

​

There's no indication that they charged their services to the company, or that our bailout had anything to do with it.

More importantly, we shouldn't be giving out tax payer money to begin with, regardless of what bankers do with their money in their personal time.

Perhaps so, but the opening paragraph describes using credit cards. Further down, we find:

Davis says she hasn't yet decided whether to release the full 9,800-name list publicly.

9,800 names!!

At least some of them may not be from Wall Street firms that were bailed out, of course.

This story is supposed to air on 20/20 this evening. Maybe we'll find out more then.

 

[Andy]

Perhaps so, but the opening paragraph describes using credit cards. Further down, we find:

9,800 names!!

At least some of them may not be from Wall Street firms that were bailed out, of course.

This story is supposed to air on 20/20 this evening. Maybe we'll find out more then.

You're shocked? Perhaps you are not from a major city. Here in Columbus Ohio, prostitution rings are very profitable. Columbus isn't even a "major" city. I'm actually a bit surprised the number is only 9,800. I would have thought more into the 10s of thousands. Of course this is just one ring. There's likely many more.

Also, most, it seems are investment bankers and managers. That also doesn't surprise me. CEOs and so on, generally are too high profile to do something like that and not get caught.

As far as using credit cards, big deal. The credit cards are not crashing economically. It's the mortgages and sub-prime loans that are crashing.

To me, I'm more ticked off about things like what Clinton did, or those congressmen, where they simply charged prostitution straight to the government, or had government paid for secret service and security go and procure women for him.