Get the only stock market newsletter you'll ever need.

How to Start Investing

The #1 Characteristic of a Great Investor

Want to invest in Agriculture? Moo!

How to Invest “Green” With ETFs

The #1 Buy and Hold Investor of All Time

The Secret to Buy and Hold Success

Got a Buy and Hold Story? Tell Tracey

The Baseball Card Bubble

Get In on the Commodities Boom

Lessons from the Beanie Baby Mania

Watch out: Silver is Set to Soar

Am I the only one thinking: $4,300 for two hours?

Written by Tracey

March 12, 2008 05:30 AM

The highest paid lawyers in the country make about $1100 an hour. These are the brainest, smartest of them all. The ones that you want to hire if you’re facing 10 years in jail for, well, money laundering.

Apparently, Eliot Spitzer allegedly paid one of the women escorts in the prostitution scandal about $4,300 for two hours worth of “work”.

That’s $2150 an hour.

Is there something I don’t understand here?

Prostitution has to be the only profession where women actually make MORE money than men.

Press reports are saying that Spitzer allegedly paid up to $80,000 on his illicit activities. Charlie Sheen, who was allegedly involved in the Heidi Fleiss ring, supposedly paid $50,000. These are quite enormous sums for a roll in the sack. Apparently, Spitzer can afford it. From the Associated Press:

Spitzer’s vast personal wealth would have made it easy for him to spend thousands of dollars on prostitutes. The scion of a wealthy Manhattan real estate developer, Spitzer reported $1.9 million in income to the IRS in 2006.

The law of economics says that price is controlled by supply and demand. Maybe there isn’t enough supply of this and too much demand. Hence the high price.

But the talk around the water cooler today was, by both men AND women, “I’m in the wrong profession.”

Because to many people, $4,300 for two hours seems incredible.

But let’s not glamourize prostitution. For every woman charging $4,300, there are others that charge $5. Or get nothing.

It does make me wonder, though. What was it about these women that was special? Was it like the Mayflower Madam- an upscale service that had women of a certain caliber? Were they college educated? Speak french and russian? Look like models?

Several years ago, there were rumors of an alleged madam who was a student at Stanford’s Law School. Stanford Law is one of the most prestigious law schools in the country. Graduates can earn $165,000 upon graduation and more as their careers advance. Why would one of the women students run a prostitution ring?

Apparently, it was much more lucrative than the $165,000 a year. Much more.

And, in America, money talks- right?

More details are sure to emerge about Mr. Spitzer and his alleged activities with this prostution ring. In the meantime, the rest of us are left to wonder: $4,300 for two hours?

4 Responses to “Am I the only one thinking: $4,300 for two hours?”

  1. It represents the growing chasm between “us” and “them.”

    I wonder, does Mr. Spitzer known how much a dozen eggs costs, or a gallon of milk? How about prescription allergy medicine?

    How can our elected officials represent us if they have no idea how we live?

  2. Good points.

    I’m assuming Mr. Spitzer has NO idea how much eggs or milk cost. I often wonder when the last time he was in a supermarket? Or any of them? (Hillary, John McCain, Barack Obama etc.)

  3. Tracey,

    From what I understand part of the $4,300 was to go for future services. That “Kristen” made about $1000/hour. Still a tidy sum. I heard that a pornstar Sunset Thomas made more than a million working at one of the Nevada brothels. Not bad work if you don’t mind the clients.

    I am of the more power to them, let consenting adults do what they like school. Also, I think most prostitutes do not want to see it legalized. If it were prices would drop.

  4. Tracey - yes, I still love reading this! Re: the price — since it was through an agency, they get a significant percentage. Also there was an interesting article in the NYT this weekend — a profile of a sex worker who eventually just learned to charge more, up to $1,500 from her original price of $100. She didn’t do anything differently, she said, but said that clients treated her infinitely better if she set a high value on her expertise.

Leave a Reply