No More Expense-Account Hookers for Deutsche Bank
Hotel porn, first-class travel take hit as credit crunch hits home in Germany
By Kevin Spak,  Newser Staff
Posted Apr 23, 2008 5:10 PM CDT
"In the good old days, you could pass off a trip to a knocking-shop as a restaurant if the name wasn't too obvious," a bank source says. "But we're in an uptight, locked-down new puritanism now."   (AP Photo/Peter Dejong)
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(Newser) – In a sign of just how bad the credit crisis has become, Deutsche Bank has forbidden its employees from using expense accounts to pay for brothel visits and hotel porn, the Independent reports. It's unclear if execs have been seeking relief from subprime woes—the German giant has written down $4 billion—in fleshier pleasures, the paper adds.

The bank also cut back on more prosaic expenses like meals and taxi rides. “In the good old days, you could pass off a trip to a knocking-shop as a restaurant if the name wasn't too obvious,” one insider said. “But we're in an uptight, locked-down new puritanism now, not helped by sub-prime.”