Home > Financial Markets > Spanish prostitutes: striking at the heart of the banking industry. What about an SPS?

Spanish prostitutes: striking at the heart of the banking industry. What about an SPS?

Back on deck after the Easter break – many thanks to Richard Wells for this piece from The Week magazine.

High-class prostitutes in Spain have gone on strike over the financial sector’s reluctance to extend credit to families and small businesses. The women say they will not have sex with bankers until the situation changes. “We have been on strike for three days,” said one woman in Madrid. “We don’t think they can withstand much more.” It is claimed that bankers have been trying to get around the strike by posing as architects and engineers – but the sex workers have not been fooled. “It’s been many years since these professionals could afford rates that start at £250 an hour,” said one. .

With the issue Collateral Debt Obligation (CDO) and Credit Default Swaps (CDS) leading up to the financial crisis of 2008 I am surprised that the Spanish banking fraternity haven’t developed a SPS – Spanish Prostitute Security. I am sure the SPS would be rated AAA by Standard & Whores.

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