The Credit Crisis Subtext of the Spitzer Story

I think this might be ironic, and not the Alanis kind either:

The members decided that even though Client 9 had a credit of $400 to $500 with the ring, they wouldn’t let him keep the appointment until his latest deposit arrived. Client 9 made the calls himself.
On Feb. 13, according to the affidavit, Client 9 made a hotel reservation in D.C. under his name and left a key for a woman named “Kristen.”
Client 9 was eventually told his deposit had arrived and “Kristen” was on her way from New York. Client 9 responded, “Great, OK, wonderful.”
Client 9 discussed with the prostitution ring a way for him to have credit stored up so that he wouldn’t have to worry about sending in a deposit in the future.
Then they discussed a way for “Kristen” to get his hotel room key once she arrived.
“Kristen” was sent to room 871, which Client 9 was leaving ajar; Client 9 wanted to be reminded of what she looked like and was told “American, petite, very pretty brunette, five feet five inches, and 105 pounds.”

Was Spitzer done in by tougher credit standards? If only some banks were as prudent as whorehouses.
Check out their rates (conveniently listed in pounds, dollars and euros). You can pay with cash, credit card, wire transfer or money order. I wonder if the rates count as core or non-core inflation.

Posted by on March 10th, 2008 at 6:01 pm


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.