Wanted: Psychopaths for top banking positions

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I noticed an interesting recruiting technique used by some head hunters filling top investment banking jobs. In a recent article published in the Journal of Business Ethics entitled "The Corporate Psychopaths: Theory of the Global Financial Crisis", Clive R Boddy points out that psychopaths, people who have no conscience or empathy, seem to be rising in the ranks of key senior positions within modern financial corporations. These individuals are able to "influence the moral climate of the whole organization and yield considerable power, have largely caused the [banking] crisis'.

I know Thom has mentioned this many times in the past, seeing a problem not only in investment banking but in the corporate offices of large health insurance providers. What better way to take greed to a whole new level then to hire someone with no conscience, no empathy. A human robot programmed by a sickness to do what ever it takes to increase profits.

Also mentioned in the article from the JBE is a quote from Professor Robert Hare In Jon Ronson's widely acclaimed book The Psychopath Test, Professor Robert Hare told the author: "I should have spent some time inside the Stock Exchange as well. Serial killer psychopaths ruin families. Corporate and political and religious psychopaths ruin economies. They ruin societies."

A quote from a senior UK investment banker says it all "At one major investment bank for which I worked, we used psychometric testing to recruit social psychopaths because their characteristics exactly suited them to senior corporate finance roles." Here was one of the biggest investment banks in the world seeking psychopaths as recruits. A very scary practice. I wonder how many people with these particular skill sets have ended up in politics? I know I can name at least one, a governor who lets people die so she can give tax breaks to the filthy rich.

How many borderline social psychopaths have started or are running some of our fortune 500 corporations. Destroy the competition at any cost, monopolies, buy businesses just to break them up. You've got to wonder.

magic59's picture
magic59
Joined:
Jul. 31, 2007 3:01 pm

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From above: A quote from a senior UK investment banker says it all "At one major investment bank for which I worked, we used psychometric testing to recruit social psychopaths because their characteristics exactly suited them to senior corporate finance roles."

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The crash has laid bare many unpleasant truths about the United States. One of the most alarming, says a former chief economist of the International Monetary Fund, is that the finance industry has effectively captured our government http://www.theatlantic.com/magazine/archive/2009/05/the-quiet-coup/7364/

Probably having a government captured by social psychopaths isn't a good thing....but it explains a lot.

Retired Monk - "Ideology is a disease"

polycarp2
Joined:
Jul. 31, 2007 3:01 pm

A government captured by social psychopaths is a very scary thing. Any job that affects the personal and financial well-being of people should have a psychopath filter. Maybe psychometric testing as mentioned in the article only for rooting out such individuals, not recruiting them. Give the tests to all health insurance executives would be a start. Anyone running for political office should receive the test. If they are found to have social psychopathic tendencies we may not be able to stop them from running but at the very least they should come with a health warning like we put on packs of cigs, this candidate may be hazardous to your health.

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magic59
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