Thursday, November 13, 2008

Crashing western economy good news for "Natashas"?

I know some disagree with me about the connection I see between economic excess and sexual exploitation.

My reasoning has been that the drive behind the odious flesh trade can be attributed as much to the cavalier attitude of affluent pervs driving the demand as to the greedy thugs supplying that demand and reaping obscene (literal and figurative) profits.

Well, I guess time will tell if there is anything to my theory. But, coincidentally, it seems that suddenly the banking industry has a little economic incentive to ditch its cavalier attitude, according to this article in MacLeans magazine on the "new frugality."

... Deutsche Bank recently informed managers it would no longer pay for visits to strip clubs.

“Deutsche Bank does not approve of any adult entertainments, and such expenditures will not be reimbursed,” said a memo obtained by the German magazine Der Spiegel. “The mood of the super rich is going to change during the next year from ‘How To Spend It’ to ‘How Not To Flaunt It,’ ” wrote Christopher Wood, an analyst with CLSA, in his newsletter Greed & Fear.

“Certain people, particularly the Russians, have not got the point yet. But the backlash is undoubtedly coming.”

Full article here. here.