Prostitution and Escorts on Wall Street

[Jim]

I recently watched a financial crisis-based documentary narrated by Matt Damon. Everything was fair and square, but one of the parts that urked me a bit was an interview with a female Escort service manager.

She talked about how all the tippy top people at the bulge bracket firms on Wall Street, as well as "ALL" the big guys on Wall Street in general sought after her services. She even singled out a BB bank (which I will not mention here).

How realistic is this? Considering their outward display of professionalism and talent, is the insider culture of these companies conducive to accepting prostitution?

 

[mfegrad]

have you spent much time on a trading floor or researching the history of trading over the last thirty years? take liar's poker, for instance. if i remember correctly, some of the cast were old school, white collar types, while the bond traders that started killing it were tres uncouth. since they were killing it, they more or less took over, and that's sort of been the name of the game since. that's not to say trading floors are a frathouse, but they're closer to that than they are to monasteries.

the finance world attracts alpha males. throw a lot of money in the mix and yeah, stuff happens. what's happened lately with arnold and strauss kahn and john edwards and spitzer not so long ago? same thing; men with a lot of power thinking they can do whatever they want, social mores be darned.

not putting any value judgments on this type of behavior, but it is what it is.

 

[bigbadwolf]

She talked about how all the tippy top people at the bulge bracket firms on Wall Street, as well as "ALL" the big guys on Wall Street in general sought after her services. She even singled out a BB bank (which I will not mention here).

How realistic is this? Considering their outward display of professionalism and talent, is the insider culture of these companies conducive to accepting prostitution?

I don't see any incompatibility between professionalism and using an escort. "Prostitution" isn't quite the right word -- the agency supplies a girl for a fee: if she's any good, she will be a sharp dresser, an interesting conversationalist, have a college degree and at least a veneer of culture. You can take her out to a show, wine her and dine her. What takes place afterwards depends on mutual understanding between the client and the girl in which, er, pecuniary considerations also play a part. Considering what a classy NYC escort service is likely to charge I doubt whether anyone making even $200,000 could afford it on a regular basis.

 

[Jim]

Does this mean that some Wall Street executives would feel uncomfortable about having women occupy high positions?

*I wouldn't say it's incompatible either. I would simply like to know if it's something on the lines of "Hey! After trading tonight, wanna go grab some escorts and watch a Broadway Show and then BAM! Bang her afterwards???" on trading floors, or within the company.

 

[bigbadwolf]

*I wouldn't say it's incompatible either. I would simply like to know if it's something on the lines of "Hey! After trading tonight, wanna go grab some escorts and watch a Broadway Show and then BAM! Bang her afterwards???" on trading floors, or within the company.

Those aren't escorts then. They're street hookers. And the kind of men who can afford escorts and know how to treat them are unlikely to talk this way. Also keep in mind that escorts are often used just as escorts -- not for sex. A man may want an attractive and cultured woman to accompany him to a social occasion -- and be willing to pay for it.

 

[Barny]

BBW - I think you're coming across as slightly deluded here. There's no justification for escorts or prostitutes. They're dysfunctional people used by other dysfunctional people. The fact that so many bankers apparently use escorts just shows how many are dysfunctional. Escorts are not classy or sophisticated, whether they have a college degree or not. They sell their company and their bodies to the highest bidder, simple as. There happen to be classy, sophisticated, intelligent and attractive women around you know - they just tend to go for classy, sophisticated, intelligent and attractive men, which most bankers aren't.

 

[bigbadwolf]

BBW - I think you're coming across as slightly deluded here. There's no justification for escorts or prostitutes. They're dysfunctional people used by other dysfunctional people. The fact that so many bankers apparently use escorts just shows how many are dysfunctional. Escorts are not classy or sophisticated, whether they have a college degree or not. They sell their company and their bodies to the highest bidder, simple as. There happen to be classy, sophisticated, intelligent and attractive women around you know - they just tend to go for classy, sophisticated, intelligent and attractive men, which most bankers aren't.

Not necessarily. These aren't truck stop girls servicing some redneck truck drivers. It's a mistake to conflate the two.

Finance, with its high stress and long hours, breeds dysfunctionality.

 

[SYau]

You pay for it one way or another.

 

[joel_b]

How realistic is this? Considering their outward display of professionalism and talent, is the insider culture of these companies conducive to accepting prostitution?

uhhh, that's a pretty naive question.

where there's money, there's prositutes/escorts. It has little do with the industry, the talent, the professionalism or anything. See the history of recorded time for more details.

 

[tobias elbert]

I sell my company and brain to the highest bidder, too!

 

[Jim]

uhhh, that's a pretty naive question.

where there's money, there's prositutes/escorts. It has little do with the industry, the talent, the professionalism or anything. See the history of recorded time for more details.

I knew that stuff like that goes on. I was simply asking whether it was a collective or corporate activity. For instance, would Lloyd Blankfein ask a bunch of his colleagues to go escort hunting with them? And more realistically, would company money actually be spent on these services? (i.e. miscellaneous client entertainment expense).

Those aren't escorts then. They're street hookers. And the kind of men who can afford escorts and know how to treat them are unlikely to talk this way. Also keep in mind that escorts are often used just as escorts -- not for sex. A man may want an attractive and cultured woman to accompany him to a social occasion -- and be willing to pay for it.

Do you mean to say that street hookers are often used as escorts to Broad Way musicals? Probably not. Escorts are often used as street hookers, whereas street hookers are rarely used as escorts.

 

[onthesc]

You pay for it one way or another.

LOL.

I don't know a thing or two about hookers or escorts. But I believe the guys here are trying to differentiate the two. Perhaps escorts you are not guaranteed to score, but they are guaranteed to be smoking and "sophisticated"? Anywho, it makes sense if it's cheaper for them to get an escort rather than to spend the time and meet a well-presented girl on their own. Not that I agree with it.

 

[Ohad]

Escorts, prostitutes, porn actresses - it's all the same.
The only difference is if the government tax the income or not.

As long as everyone is doing it of freewill , I'm fine with it.

 

[rajanS]

I don't see any incompatibility between professionalism and using an escort. "Prostitution" isn't quite the right word -- the agency supplies a girl for a fee: if she's any good, she will be a sharp dresser, an interesting conversationalist, have a college degree and at least a veneer of culture. You can take her out to a show, wine her and dine her. What takes place afterwards depends on mutual understanding between the client and the girl in which, er, pecuniary considerations also play a part. Considering what a classy NYC escort service is likely to charge I doubt whether anyone making even $200,000 could afford it on a regular basis.

you sound quite experienced haha

 

[Prashant.Kumar]

I'm going to have to intrude and throw it out there that I don't think this thread (admittedly in the off-topic section) contributes to maintaining the high-quality I'd expect and desire on this forum. Heck, I'd even ask for a lock on it.

 

[Ohad]

I'm going to have to intrude and throw it out there that I don't think this thread (admittedly in the off-topic section) contributes to maintaining the high-quality I'd expect and desire on this forum. Heck, I'd even ask for a lock on it.

Free speech is important, once you start removing "unworthy" posts the forum becomes useless.
There are no flaming or immature posts here, I don't see your point.

 

[Jim]

I'm going to have to intrude and throw it out there that I don't think this thread (admittedly in the off-topic section) contributes to maintaining the high-quality I'd expect and desire on this forum. Heck, I'd even ask for a lock on it.

Why?

 

[DominiConnor]

As someone who's worked as a journalist, part of my education in that was the "they would say that wouldn't they ?" test.

Imagine you run a small business (say) fixing computers.
A big TV channel turns up and says they are making a program about Wall Street computers.

Do you say :
a) "we're a shit little firm banks won't use us"
b) "lots of banks depend upon us"

Same with hookers.

BigBadWolf is right, what people do with the money you pay them is their business provided it's legal and they leave it at home.

Part of my work is dealing with situations, where people have acted in ways that are not ideal, and if you know as much stuff as I do, you'd realise that you couldn't staff any large firm if you started applying the pseudo-ethical standards that the media apply so that they can call it a "scandal". Again from my own experience in the media I will share that they are worse than any bank.

I don't just mean banks couldn't, I mean your supermarket wouldn't be able to fill its shelves and the lights in you home would go out.

Have you shouted at someone whilst angry and/or drunk ?
That's a criminal offence dear. Yes it is, people get convicted of it; you were lucky, one day you may not be.
Want to be fired for it ?

Of course that's a matter of degree and your defence when hauled up in front of senior management and HR would be "this is nothing to do with my job", wouldn't it ?

Something like 1/3 of the population have cheated on their wife/husband, and audits of tax returns don't imply that honesty is a universal virtue.

As it happens, my political philosophy is what my (Oxford PPEist) wife labels as "classical liberal", and part of that is to apply rational tests to power.
The OP seems to feel that he has the right to judge whether people who fail his test should be allowed to have careers in banking.
The test here if you are to adopt that rule is to work out what would happen if someone who he regarded as a bad person got that power. That's necessary because power may first be given to someone you like, but inevitably the "other side" will get it, and sooner than you'd like.
The "bad people" now can fire you if you go to a place where prostitutes are known to work, or if you're seen talking to one.
"You didn't know she was a hooker ?", sorry we don't believe you, collect your stuff from security on the way out.

 

[Jim]

Dom, I respect you, so I'll just keep it short.

You're reading into tone that's not even there. As to your Philosophy, I have no clue where in the world that came from.

 

[Prashant.Kumar]

Free speech is important, once you start removing "unworthy" posts the forum becomes useless.
There are no flaming or immature posts here, I don't see your point.

Point well made Ohad.