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1月12日 Strip Clubs & Wall StreetNot a day goes by that we aren’t hearing about how stupid Wall Street are getting into trouble frequenting “adult entertainment establishments,” or strip clubs. As we reported Morgan Stanley even fired a bunch a salesmen for taking a woman client to a strip club and paying for it out of their own pocket. The Morgan news created a fairly heated debate on Wall Street about whether such behavior is acceptable (the best you can say is that sometime it is and sometime it isn’t)
So the Bob Woodward of TV-Financial-Early-Morning broadcasting (note all the qualifiers) Matt Greco did a little digging to find out what Wall Street firms are “stripper friendly,” allowing their employees to use strip clubs as a way of getting business, and which were not. The results will surprise you. Nearly ever major Wall Street firm appears now to be following Morgan Stanley’s lead and telling their employees to stay away from “adult entertainment establishments,” including Merrill Lynch, Bear Stearns, Citigroup, and Bank of America. (Lehman never called back with an answer). They offered up relatively similar explanations, that using “adult entertainment establishments” to gin up business is “inappropriate,” “unprofessional,” ect., ect., ect., But what we found interesting was the one firm that appears to have no problem with stripper clubs: Goldman Sachs. Apparently those white shoe bankers at Goldman have no problem taking their white shoes into places like Scores in New York City, or Skin, the Phoenix-area strip joint that got the Morgan Stanley guys fired. A Goldman Sachs spokesman we “expect our people to use good judgment at all times,” though he added that at Goldman you can be fired for stupidity, meaning that anyone getting their names in the paper for attending an “adult entertainment establishment” could be looking for another job. Ironically, the source of these very strict stripper-club rules is not the market’s two self-regulatory organizations, the NASD or the NYSE. Both say they don’t have specific rule prohibiting stripper clubs as a business venue.
Charles Gasparino - CNBC 评论 (7)
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