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0.7 Hard Times for Bankers

Thanks to the global credit crisis, banks have been forced to cut back on amenities long enjoyed by executives. The German finance titan Deutsche Bank-hard hit by its exposure to subprime mortgages-has issued a memo to its senior execs, ordering them to clear cab fare reimbursement ahead of time, to restrict business meals to $100 a head and to limit first-class rail tickets, reports the Independent.

Oh, yes, and one other thing: Brothel visits, the memo read, can no longer be expensed. Nor can skin channels in the hotel room.

"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 bank employee ...

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