Tuesday, October 23, 2007

Subprime crash hits escort biz in NYC

Awwwww. All those high-flying subprime hedge fund managers sleaze bags who've been cheating on their wives with hookers, er, escorts are pulling back (or out, as the case may be). The subprime fallout has hit the sex industry. Sorry, boys.

From Hedge Funnies "Go back to your wives, you fucking losers,” shouted a veteran exotic dancer who would only give her name as “Mercedes” at the men as they were being dragged into a chartered bus bound for Greenwich, Connecticut...Before the meltdown in the subprime mortgage market, of the Uptown Escort Service could expect at least two dozen calls on Friday nights from hedge fund managers looking to blow off steam from a hard week at the office. Now, the phone barely rings at all.

“Those hedge fund guys were the best” said managing partner Phoebe St. Clair, 21, as tears welled up in her eyes. “I don’t know whether we’re going to be able to hang on much longer unless business starts to pick up real soon.” St. Clair is hardly alone. Escorts, strippers and Asian massage specialists are all hurting because of Wall Street’s aversion to securities backed by mortgages from people with dodgy credit. Business is off almost 50 percent throughout the city, according to the New York Association of Sex Workers.