Cries of despair echo though Wall Street

The New York Stock Exchange and National Association of Securities Dealers announced yesterday a proposal for “principle-based standards that address the obligations of securities firms and individual brokers in connection with business entertainment.” Translation: no more expensing your lap dances, boys.
From the New York Post (registration required):

“Bankers and stock brokers make up a large part of our clientele,” said Lonnie Hanover, spokesman for the Scores gentleman’s club, which operates New York’s two largest adult entertainment establishments. “If you try to curtail their visits to Scores, then the world might as well come to an end.”

Glad to see no one is being overly-dramatic about the decision. Sheesh.