“Psychopaths Caused the Financial Crisis … And They Will Do It Again and Again Unless They Are Removed From Power”

Ha!!  The truth spreads like a virus!  This post will be “borrowed” from http://www.washingtonsblog.com/.  And you thought I was the only one.  ‘That PW, such an unhealthy fascination with psychopaths.’  ‘Sad really, just sad.’ ‘Indubitably, indubitably.’  I hear your whisperings, I see you looking askance at me when you think I’m not looking.  And you even call me paranoid — gasp!!  . . . But, enough about me . . . read on:

All the following quotes (and the post title) are from http://www.washingtonsblog.com/2012/01/psychopaths-caused-the-financial-crisis-and-they-will-do-it-again-and-again-unless-they-are-removed-from-power.html#comment-27721 [green highlighting added].

Psychopaths Caused the Financial Crisis

The “corporate psychopaths” at the helm of our financial institutions are to blame [for the financial crisis].

Clive R. Boddy, most recently a professor at the Nottingham Business School at Nottingham Trent University, says psychopaths are the 1 percent of “people who, perhaps due to physical factors to do with abnormal brain connectivity and chemistry” lack a “conscience, have few emotions and display an inability to have any feelings, sympathy or empathy for other people.”

. . . . . .

How do people with such obvious personality flaws make it to the top of seemingly successful corporations? Boddy says psychopaths take advantage of the “relative chaotic nature of the modern corporation,” including “rapid change, constant renewal” and high turnover of “key personnel.” Such circumstances allow them to ascend through a combination of “charm” and “charisma,” which makes “their behaviour invisible” and “makes them appear normal and even to be ideal leaders

. . . . . .

Then, according to Boddy’s “Corporate Psychopaths Theory of the Global Financial Crisis,” these men were “able to influence the moral climate of the whole organization” to wield “considerable power.”

Psychopaths Have Different Brain Chemistry from the Rest of Us

In October, we observed:

I noted last year:

Vanderbilt researchers have found that the brains of psychopaths have a dopamine abnormality which creates a drive for rewards at any cost, and causes them to ignore risks.

As PhysOrg writes:

Abnormalities in how the nucleus accumbens, highlighted here, processes dopamine have been found in individuals with psychopathic traits and may be linked to violent, criminal behavior. Credit: Gregory R.Samanez-Larkin and Joshua W. Buckholtz

The brains of psychopaths appear to be wired to keep seeking a reward at any cost, new research from Vanderbilt University finds. The research uncovers the role of the brain’s reward system in psychopathy and opens a new area of study for understanding what drives these individuals.

. . . . . .

Has anyone tested the heads of the too big to fails for this dopamine abnormality?

What are the odds that they have it? And if they have it, what are the odds that they will voluntarily start acting responsibly, especially given the broken incentive system?

Experts also tell us that many politicians also share traits with serial killers. Specifically, the Los Angeles Times noted in 2009:

Using his law enforcement experience and data drawn from the FBI’s behavioral analysis unit, Jim Kouri has collected a series of personality traits common to a couple of professions.

Kouri, who’s a vice president of the National Assn. of Chiefs of Police, has assembled traits such as superficial charm, an exaggerated sense of self-worth, glibness, lying, lack of remorse and manipulation of others.

These traits, Kouri points out in his analysis, are common to psychopathic serial killers.

. . . . . .

Unless We Remove the Psychopaths from Power, They Will Cause More and More Destruction

The inmates are still running the asylum.

Anyone who knows Jamie Dimon, Lloyd Blankfein or the other Wall Street “leaders” can tell you that they haven’t changed a bit since 2008. They are not repentent for their role in the financial crisis. They don’t feel bad that the taxpayers have had to bail them out again and again …

. . . . . .

I noted in October:

As former IMF chief economist Simon Johnson notes, the American finance industry has effectively captured our government in a “quiet coup”, a state of affairs that is at the center of many emerging-market crises, and that recovery will fail unless we break the financial oligarchy that is blocking essential reform.

***

The U.S. has become a kleptocracy, an oligarchy, a banana republic, a socialist or fascist state … which acts without the consent of the governed. There is a malignant symbiotic relationship between the governmental leaders and their cronies, which makes a handful rich at the public trough[.]

From having worked at UBS, PaineWebber, Union Bank of Switzerland (an earlier iteration), Lehman Brothers, Salomon Brothers, Drexel, EF Hutton, I couldn’t agree more.

Let me add that the claim that they brought about this economic collapse/disaster purposely is pure bs — a standard psychopathic canard.  They do this for three mutually supporting reasons:  1) they hate to lose, 2) if they can define a loss as a win it actually becomes a win — here’s their distorted cause and effect reality, their strange view of words, and much else, and 3) they wish to demoralize/undercut/confuse the opposition to prevent effective countermeasures.

Pathwhisperer posts/comments on occupywallst.org

From Forum Post: Know you enemy – Bank Criminal Gangsters are Narcissists , posted by OccupyLink:

I prefer the term psychopath. We are not all one human family, we are not all brothers and sisters under the skin. Psychopaths have a different brain structure, they are human alternates.

. . . . . .

Narcissists are ill, psychopaths are true to their nature. Fighting crime, corruption and evil without reference to (and a separate response for) psychopaths is like fighting with both hands tied behind one’s back.

It’s not accidental that we are at this turn in history. We’ve been blind to the predators in our midst too long.

From 2008, but nothing’s changed: https://pathwhisperer.wordpress.com/2008/10/11/welcome-to-our-sociopaths-gone-wild-economy/ ; https://pathwhisperer.wordpress.com/2008/09/24/commonalities-between-wall-street-speculators-andor-fed-bankers-and-sociopaths/ . Far from being reined in, Wall St. sociopaths are even more in control.

Obviously individuals are punished for crimes not for what they are. Most psychopaths (but not all) are persuadable, concerning following laws and societal norms, through educated self interest or utilitarianism. But it is disastrous to ignore their presence.

. . . . . .

Wow! Is this a joke or are you for real? Assuming the latter, thanks for writing in and illustrating bankster criminal psychopathy.

Since you are into sharing, could you have your brain scanned and share the results with us?

I could tell you that the lowest IQ of a Wall Street trader would still be 50% higher than the average IQ of a OWS protester

That’s delusional, but I’ll humor you. Would that license you to frontrun the market?

Wall St./the financial services sector is just that, a service sector. If you look at a national economy as one business, it’s not even a profit center. But it has become parasitic on the larger (real) economy. Understanding this is probably beyond your limited intellectual capabilities.

You looters are destroying the world economy. Thanks for the depression you’ve given the U.S. and the world.

Obviously I am not the only one aware of the danger of sociopaths in the financial industry. From Forum Post: Occupy Psychopaths 1 (OWS vs. the Pathology of the 1%), (mine)

“An Occupy Wall Street Activist [a Mr. PinkWhiteBlack]  explains why he thinks its very important to spread knowledge about psychopaths and psychopathy. Find out about the important connection between psychopaths and the ruling 1%:

“So basically the reason I come down here every so often is that I’m trying to spread information about psychopathy. I think it has an over-arching impact on why people are down here camping out, and why the financial industry and the government really doesn’t care about the people anymore. These people are about 1-5% of the population and they have no concept of empathy, remorse, guilt, conscience – they’re just not biologically capable of it. They’ve shown this in fMRI studies and there’s been a lot of actual hard science that proves the point that their totally different from normal humans.””

. . . . . .

pathwhisperer

It’s more subtle than that [in reply to the comment that psychopaths are insane]. Psychopaths are clever chameleons, hiding their true nature. Technically they are not insane but true to their own nature.

. . . . . .

Anachronism

I believe we are misdiagnosing the sociopathy/psychopathy of the “1%” as steeming from some innate biology rather than modern socioeconomic structures.

I think it is both. If corporations are allowed the freedom to be sociopathic, sociopaths will and do rise to the top — they don’t have the “problem” of a conscience and the “friction” it induces. Our current socioeconomic structures draw them forward.

I have no idea what percentage of the 1% is in fact sociopathic, but even a limited number can act as a “bad seed” in influencing corruption.

Fighting crime, corruption and evil without any reference to sociopathy is like fighting with both hands tied behind one’s back. It seems we never make inroads on sex trafficking, child prostitution, illicit organ transplant rings, etc. Sociopaths laugh at our laws.

. . . . . .

From Forum Post: Ponerology 101 Snakes in Suits, posted by whatishumanity:

pathwhisperer

Wow, great to see this post. Lobaczewski’s (and others, it was a saga) “Political Ponerology: A Science on The Nature of Evil adjusted for Political Purposes” is one of the great books of history. It is a scientific study of the development of pathocracies (governments under the control of evil individuals and movements).

Selections and commentary on “Political Ponerology”: http://www.cassiopaea.org/cass/political_ponerology_lobaczewski.htm,http://www.sott.net/articles/show/159686-In-Memoriam-Andrzej-M-obaczewski

Purchase the book: http://www.ponerology.com/

Hi whatishumanity, I notice the comments are all your own. The topic of psychopaths in control of power seems to be too big for most people to wrap their heads around. I’ve seen this many, many times.

. . . . . .

Blaming the victim is their specialty. They still want to blame unqualified buyers for the worldwide economic crash, these buyers weren’t even to blame for the mortgage meltdown. Mortgage backed securities were the cause, they supposedly freed the brokers from risk. The brokers then went out vacuuming up any buyers.

The crash has been caused by untramelled greed and the creation and fraudulent selling of “risk free” financial “products”, out of control derivatives, bubble economics, etc. — they actually thought they had beaten the business cycle and had created a risk free capitalism by securitizing everything and thus diluting the risk.

Nothing structural has changed since 2008. The banks are even more too big to fail, derivatives are even more out of control. We still have a casino economy designed by sociopaths who think they can’t lose.

In terms of people not realizing what they’re up against, everybody seems to think that sociopaths only fool the other guy, not them.

. . . . . .

From Forum Post: All activists should work at recognizing sociopaths (nowadays called anti-social personality disorder) (mine):

“[L]et me list some traits to keep in mind. Look for (in no particular order) any or all of the following: a Zelig like ability to be all things to all people, an incredible ability to inveigle themselves into the good graces of authority figures, individuals for whom the phrase two-sided is a vast underestimation, a delight in causing discord through subtle puppet mastery, a vast and deep irresponsibility, an “eggshell” type personality which is always threatening to respond in childish anger if thwarted, and as always both a deep arrogance with no discernible cause and an extreme talent at eliciting pity. Some of these insights may come in “a blinding flash” — you should pay attention to them. Of course some of these traits are not unique to sociopaths, however in sociopaths they have a “unique flavor” which I think will become evident after recognizing the first few sociopaths.” https://pathwhisperer.wordpress.com/2009/02/18/items-of-interest-some-recent-some-not-so-some-that-suggest-possible-sociopathy-some-that-scream-it/

If interested, further material of mine on the forum can be found through searching “site:http://occupywallst.org pathwhisperer”

Welcome to our sociopaths-gone-wild economy

It’s all a question of confidence, don’t cha know? There is no reality, it’s all perception management! Bring out the Plunge Protection Team. The PPT can juggle an infinite number of balls in the air for an infinite amount of time — and never drop a one. Perpetual motion machines work so well — how about a serial bubble economy? Pay the piper? — ha, ha that’s for the little people. Parties never end! Create more debt through derivatives than the amount of monetary value existing in the world? — Brilliant! Hey, why don’t we call that debt, wealth? Capitalism can be risk free! Spread the risk through mortgage backed securities and derivatives — uh, the engine of capitalism is the balancing of risk and reward on an individual level. Conmen do best when unregulated!