A Little Light Bondage to Go with Your SWAPS

With the country in the midst of the greatest financial crisis since the Depression, many Americans think derivatives traders should be turned over someone's knee and given a good spanking. Apparently, those traders would agree.

Bring out the Gimp...

In a scene reminiscent of the old F.I.A.S.C.O. days of Morgan Stanley, derivatives traders attending a conference in San Francisco last week needed to blow off a little steam, so they naturally headed for the nearest S&M club to let their freak flags fly. Because nothing projects your understanding of the gravity of the situation in the derivatives market like a ball gag and a riding crop.

They escaped to Supperclub, a bar and restaurant, where some plopped on the beds that covered the floor while a waiter in denim short shorts, suspenders and a scarf delivered drinks. The truly relaxed turned over on their tummies and received back massages from a dreadlocked member of the Supperclub staff.

By midnight, others ended up in the S & M chamber with a bed-to-ceiling stripper pole and videos of dominatrixes playing in the background.

Ah, yes. Approaching the enhanced regulatory environment that appears to be just around the corner with a sober sense of propriety...oh, who am I kidding? A little saber rattling from impotent government agencies isn't going to spoil a BSD's good time.

As for dialing things back a bit given the widespread scrutiny surrounding the derivatives industry, well, that did not quite happen.

“Given everything that is going on, I would have assumed they would tone things down at the conference,” said Markus Grünewald, the head of over-the-counter derivatives at Norddeutsche Landesbank in Germany. “But things still seem rather extravagant.”

If anyone on WSO attended this shit show, we'd all love to hear about it...