Send a Tweet
Most Popular Choices
Share on Facebook 5 Share on Twitter Printer Friendly Page More Sharing
General News    H1'ed 5/19/11

The Wall Street Sex Complex and the case of Strauss Kahn

By       (Page 2 of 4 pages) Become a premium member to see this article and all articles as one long page. (View How Many People Read This)   3 comments
Author 1549
Message Danny Schechter

When people are highly stressed, they are prone to making mistakes. The agencies shadowing them know that, and from time to time encourage it or just wait for the opportunity to help them bring themselves down.

What needs to be examined is how the crimes of the rich and powerful are treated. Bush's bombing or Geitner's tax maneuvers were ignored. But when sex is involved....

Sex scandals are also a staple of media exploitation with personal morality plays displacing political morality confrontations every time.

They are both great distractions and effective tools of character assassination which is often more effective than more violent ways to neutralize people considered dangerous..

That's why the FBI was so hot to discredit Dr. Martin Luther King Jr. with leaks of so-called wiretapped sex tapes. In his case, this tactic failed but the other worked.

In some cases both tactics are deployed as in the physical assassination of Bin Laden and then the character killing aimed at his supporters through the release of porn allegedly found in his "lair."

Intense sexual appetites are an extension of the "culture" of an avaricious financial world. Illegal sex and Wall Street (or in La Defense, France's financial district) has long been linked, writes Heidi Moore:

"This is all a reminder that the financial district hasn't always been gleaming skyscrapers and Starbucks.

Consider this passage from City of Eros: New York City, Prostitution, and the Commercialization of Sex, 1790-1920: "Adjacent to the Wall Street business district, prostitutes worked in saloons along Greenwich Street, taking men upstairs. In addition, immediately south of Wall Street was the Battery Tender- loin, on Whitehall Street. The Water Street area, however, remained the most significant and poorest waterfront zone of prostitution. Amid the rookeries, rat pits and dance halls, prostitutes exposed in each window to the public view plied their trade."

In the modern era, many of the street's most macho traders are, according to David Russell who worked in the industry for two decades, known as "swinging dicks." It is well known that the big money in Wall Street has kept a vibrant, upscale sex industry alive and well.

There has been one scandal after another. Here are a few cases cited by Moore before Spitzer's demise:

• BP Chief Executive John Browne left both his post at the oil company and his directorship at Goldman Sachs Group last year after it was revealed that Lord Browne had lied to a court about his young male lover, whom he had met through an escort-service Web site.

• A group of six women sued Dresdner Kleinwort in 2006 for $1.4 billion on allegations that male executives entertained clients at strip clubs and even brought prostitutes back to the office. The case was settled out of court in 2007.

• Canadian hedge fund manager Paul Eustace in 2007, by his own admission in a deposition filed in court lied to investors and cheated on his wife with a stripper.

 • In 1987, Peter Detwiler, vice chairman of E.F. Hutton & Co., was, according to court testimony, instructed by his client, Tesoro Petroleum Corp. Chairman Robert V. West, to hire a blonde prostitute for the finance minister of Trinidad & Tobago, which had been supporting a tax issue that would have hurt Tesoro's profits.

 • A woman claiming to have been Bernard Madoff's mistress published a book about their secret liaisons. Earlier. His secretary said he had a fondness for massages in an article in Vanity Fair.

Next Page  1  |  2  |  3  |  4

(Note: You can view every article as one long page if you sign up as an Advocate Member, or higher).

 

Rate It | View Ratings

Danny Schechter Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

News Dissector Danny Schechter is blogger in chief at Mediachannel.Org He is the author of PLUNDER: Investigating Our Economic Calamity (Cosimo Books) available at Amazon.com. See Newsdisssector.org/store.htm.
Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Writers Guidelines
Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

STAY IN THE KNOW
If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEdNews Newsletter
Name
Email
   (Opens new browser window)
 

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

Israel Gives All Jews A Bad Name

Is There A Threat of Fascism in the USA?

Free Marketers Going After Occupy Wall Street --Danny Schechter

WHO OWNS OUR MEDIA AND WHY IT MATTERS

COG OR COA: WHY IS OBAMA MORPHING INTO BUSH 2?

WERE THE BANKS TOO BIG TO FAIL OR THE BANKERS TOO BIG TO JAIL?

To View Comments or Join the Conversation: