[Ed. note: We mentioned this briefly in Morning Docket. But any story involving the words "Cravath partner" and "hookers" deserves its own post.]
The late Deborah Jeane Palfrey, aka the “D.C. Madam,” has a New York counterpart. From ABC News (via our sibling site, DealBreaker):
Wall street lawyers, investment bankers, CEOs and media executives often used corporate credit cards to pay for $2,000 an hour prostitutes, according to the madam who ran one of New York’s biggest and most expensive escort services until it was busted last year.
But prosecutors in the Manhattan District Attorney’s office chose not to pursue any of the corporate titans, says Kristin Davis, who pleaded guilty last year to charges of running a prostitution business that used more than a hundred women.
Presumably no relation to actress Kristin Davis, who played squeaky-clean Charlotte York on Sex and the City. The actress is a brunette; the madam is a blonde (of course).
Among the names ABC News was able to confirm on [Davis's client] list:
* a partner at the Wall Street law firm of Cravath Swaine Moore, “looking for a party girl to come fully equipped,” [who] spent a total of $20,000.
Finally — a plausible explanation for those disappointing Cravath bonuses. The money went to a different set of hourly billers.
We appreciate the CSM partner’s demand that his high-class escort arrive “fully equipped.” Cravath lawyers believe in the importance of preparation. Whether dealing with depositions or dealmaking, their motto is: “Be prepared.”
Just like the Boy Scouts. If Boy Scouts blew twenty grand on whores.
Given the prestige (and profitability) of Cravath, some might find this news shocking. But those in the know realize that the white-shoe law firm has a long and august history…. of sexual deviance and prostitute patronizing.
Some historical context, after the jump.