Tuesday, August 16, 2011

Multimillionaire Redistributes Wealth

Wall Street exec John Duffy lavished gifts on three mistresses, his wife claims.Wall Street big lavished gifts on mistresses in three countries
John Duffy, 62, the married CEO of the Keefe, Bruyette & Woods investment bank, has lavished millions of dollars' worth of homes, jewelry and sexy outfits from Victoria's Secret on stunning women in three different countries, according to his estranged wife, who is suing him in Manhattan Supreme Court.

His wife, Kathy Duffy, 59, charges in a salacious divorce proceeding that her husband has been engaging in "public and notorious adulterous relationships" and has doled out costly gifts to a trio of women in the United States, Canada and the Dominican Republic, a source said.

"She charged adultery -- we're getting into Tiger Woods territory," a source said, adding that the three women have been subpoenaed to testify in court. Kathy's lawyer described her client -- who incredibly turned down a $20 million settlement offer -- as "devastated."
 Stacey McCain, over at The Other McCain has a brilliant take down of Duffy's lust for lust:
Let’s face it: The $2 million in “gifts” Duffy paid to these three mistresses in the past decade would have bought him 1,000 trysts with as many $2,000-a-night call girls as he wanted. And a hundred high-priced hookers a year would probably be enough even for Charlie Sheen.

But what this pathetic scandal actually reveals is the true motives behind Democrats’ class-warfare rhetoric. When Obama talks about “millionaires and billionaires” flying around on corporate jets, he knows that many beta males have enough imagination to be envious of what those Wall Street big shots are doing with their wealth.

The oft-remarked “growing gap between rich and poor” involves carnal rewards, as well: Laid-off factory workers can’t even afford a $20 hand job from a local crack whore, while John Duffy’s buying one mistress “a home in tropical Santo Domingo,” a half-million-dollar spread in Connecticut for another mistress and a Rolex watch for a tattooed singer.

Where’s the social justice in that, huh?

Of course, from a free-market perspective, this shows that the stupendous incomes of the rich are not hoarded uselessly, but are instead distributed throughout the economy in various ways, including the gifts that fat-cat investment bankers lavish on their mistresses, and income earned by lawyers on both sides of the eventual divorce.

Frankly, I’d rather see John Duffy’s mistresses or Mrs. Duffy’s lawyers get that money than to see it sucked up by the IRS and used to hire a bunch of government bureaucrats. Mistresses and divorce lawyers aren’t trying to enforce a bunch of atavistic rules imposed by a freedom-destroying regulatory state. And government bureaucrats seldom provide me with entertaining headlines about high-profile sex scandals.
 I just can't add anything to that.  Now all we need is pictures of his mistresses...

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