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Banksters Took Insane Risks Due To Thrill Addiction

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http://www.telegraph.co.uk/finance/financetopics/financialcrisis/8081594/Bankers-caused-credit-crisis-for-kicks.html

Bankers 'caused credit crisis for kicks'
Forget the thorny problems of risk, regulation and even reward: bankers blew up the financial system for the thrill of it, according to one British academic.
With a theory that will alarm Business Secretary Vince Cable, Dr Paul Crosthwaite of Cardiff University has argued that bankers and other investors took on excessive risks not just to make money but for the "desire" and "exhilaration" of destruction.
"For its participants and speculators alike, the crash is not simply an object of fear or anxiety, or even of mere fascination, but also of an inchoate but urgent desire," Dr Crosthwaite wrote in an article published in Angelaki: Journal of the Theoretical Humanities.
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City bankers expect billions in bonuses In Blood on the Trading Floor: Waste, Sacrifice and Death in Financial Crises, Dr Crosthwaite claims his anthropological study of investors and traders found evidence of an element of masochistic satisfaction in running up losses.

There is an element of truth in this. The fear of loss is a greater driver than the hope of gain and that fear translates into a strnger chemical reaction in the brain. It explains why gambling is addictive and why losses do not deter the chronic gambler. Banksters are essentially gamblers and had to keep raising the stakes to provide equivalent levels of stimiuls to their twisted brains.

Brown, being addicted to power, would not have restricted the banksters as their financial "miracles" were necessary to sustain NuLabour during the decade long binging and gambling that has laid our economy and our nation to waste. The massive bonuses were necessary to add more thrills as the millions were spent on fast cars, yachts and other pursuits of the financially reckless.

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So which would you prefer? A banking kleptocracy or narcotic hegemony? Lloyd Blankfein or Pablo Escobar? Manhattan or Medellin? Mortgageamphetatmine or marijuana?

South American drug lords are regularly killed in police action but name one North American credit lord that's even been arrested?

Edited by Dave Spart

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Its what regulators are supposed to regulate against.

Tony Blair always looked high to me. still does.

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http://www.telegraph.co.uk/finance/financetopics/financialcrisis/8081594/Bankers-caused-credit-crisis-for-kicks.html

Bankers 'caused credit crisis for kicks'
Forget the thorny problems of risk, regulation and even reward: bankers blew up the financial system for the thrill of it, according to one British academic.
With a theory that will alarm Business Secretary Vince Cable, Dr Paul Crosthwaite of Cardiff University has argued that bankers and other investors took on excessive risks not just to make money but for the "desire" and "exhilaration" of destruction.
"For its participants and speculators alike, the crash is not simply an object of fear or anxiety, or even of mere fascination, but also of an inchoate but urgent desire," Dr Crosthwaite wrote in an article published in Angelaki: Journal of the Theoretical Humanities.
Related Articles
We're all in this together – has anyone told the bankers?
Former UBS directors escape action over failures
City bankers expect billions in bonuses In Blood on the Trading Floor: Waste, Sacrifice and Death in Financial Crises, Dr Crosthwaite claims his anthropological study of investors and traders found evidence of an element of masochistic satisfaction in running up losses.

There is an element of truth in this. The fear of loss is a greater driver than the hope of gain and that fear translates into a strnger chemical reaction in the brain. It explains why gambling is addictive and why losses do not deter the chronic gambler. Banksters are essentially gamblers unproductive psychopaths and had to keep raising the stakes to provide equivalent levels of stimiuls to their twisted brains.

Brown, being addicted to power, would not have restricted the banksters as their financial "miracles" were necessary to sustain NuLabour during the decade long binging and gambling that has laid our economy and our nation to waste. The massive bonuses were necessary to add more thrills as the millions were spent on fast cars, yachts and other pursuits of the financially reckless.

fixed

Edited by Lander

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Nick Leeson talks about this in his book when he bought down BCCI!

You mean "Barings." BCCI was a money laundering institution that was closed by regulators in 1991. Was used by the CIA amongst others to shunt money around the world.

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You mean "Barings." BCCI was a money laundering institution that was closed by regulators in 1991. Was used by the CIA amongst others to shunt money around the world.

hey what bank doesn't shunt and launder money! IIRC my bank hasn't performed a statutory required anti money laundering check on me ever! They just shut up and take the funds.

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With a theory that will alarm Business Secretary Vince Cable, Dr Paul Crosthwaite of Cardiff University has argued that bankers and other investors took on excessive risks not just to make money but for the "desire" and "exhilaration" of destruction.

Fraudulently making money wasn't enough for them just the sheer enjoyment of destroying things :o

Mind you from Cardiff, Wales. Likely hard hit by the cuts. :unsure:

But are UK people supposed to be bothered what alarms Vince. He currently seems to be enjoying the "desire" and "exhilaration" of causing the destruction of more UK workers prospects by handing more UK jobs to overseas workers.

There are lots and lots of theories and "What's good for the goose is good for the gander" is one in a long line of them.

Edited by billybong

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One word for this: greed.

Nothing to do with pseudo science.

Greed. Which is evil. Simples.

ps. "due to" does not mean "because of" - something the bankers are also confused about.

Edited by okaycuckoo

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http://www.telegraph.co.uk/finance/financetopics/financialcrisis/8081594/Bankers-caused-credit-crisis-for-kicks.html

Bankers 'caused credit crisis for kicks'
Forget the thorny problems of risk, regulation and even reward: bankers blew up the financial system for the thrill of it, according to one British academic.
With a theory that will alarm Business Secretary Vince Cable, Dr Paul Crosthwaite of Cardiff University has argued that bankers and other investors took on excessive risks not just to make money but for the "desire" and "exhilaration" of destruction.
"For its participants and speculators alike, the crash is not simply an object of fear or anxiety, or even of mere fascination, but also of an inchoate but urgent desire," Dr Crosthwaite wrote in an article published in Angelaki: Journal of the Theoretical Humanities.
Related Articles
We're all in this together – has anyone told the bankers?
Former UBS directors escape action over failures
City bankers expect billions in bonuses In Blood on the Trading Floor: Waste, Sacrifice and Death in Financial Crises, Dr Crosthwaite claims his anthropological study of investors and traders found evidence of an element of masochistic satisfaction in running up losses.

There is an element of truth in this. The fear of loss is a greater driver than the hope of gain and that fear translates into a strnger chemical reaction in the brain. It explains why gambling is addictive and why losses do not deter the chronic gambler. Banksters are essentially gamblers and had to keep raising the stakes to provide equivalent levels of stimiuls to their twisted brains.

Brown, being addicted to power, would not have restricted the banksters as their financial "miracles" were necessary to sustain NuLabour during the decade long binging and gambling that has laid our economy and our nation to waste. The massive bonuses were necessary to add more thrills as the millions were spent on fast cars, yachts and other pursuits of the financially reckless.

"Limbic system implicated in risk / reward shock. Nucleus accumbens in custody"

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  • 261 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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