The New York Daily News reports that strip club / lapdancing empire Scores is to close its doors for the last time before the year end, as the downturn bites and laid-off bankers stay at home with their wives.
The clubs enjoyed great success over the last few years, as bankers with big expense accounts took clients out for a night on the town. But those days are gone now, as expenses have been cut and firms told staff not to take clients to politically incorrect venues. The club on W.27th St also lost its liquor license.
Even bankers who still have a job (and are prepared to visit places like Scores in disguise) are having to make do with huge bonus payout drops. The New York Post reports that even Goldman's bonus pot is expected to shrink from $20bn last year to around $12bn in 2008 (and Goldman remains one of the most profitable investment banks).
Finally, and talking of disguises, The Wall Street Journal reports that many laid-off bankers have now taken to sporting beards. Some say that this is a rebellion against years of daily shaving, whilst others insist that the former high flyers are merely getting into the spirit of things with a hobo look which reflects their reduced circumstances.
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