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Bank intentionally hires psychopaths

Last week Lovefraud published an article about the paper written by a British professor who theorized that the global financial crisis was caused by corporate psychopaths. Here’s another article on the same topic with an amazing twist: One British investment banker admits that his company actually hired corporate psychopaths on purpose, because “their characteristics exactly suited them to senior corporate finance roles.” I wonder if that bank is still in business.

Read Brian Basham: Beware corporate psychopaths they are still occupying positions of power, on Independent.co.uk.


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30 Comments on "Bank intentionally hires psychopaths"

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Many companies intentionally hire psychopaths, they may not know the name for them, but they hire people with cut-throat ability who will be able to clear a path through the human workers to get the best profits for the company. The bottom liine is that “the company” does not care for the people who work there, or even the customers because a “company” is the people at the top, the spread sheet, it is not human, does not have empathy and people who work there are simply “human resources” just like lumber or chemical resources, what happens to the things the company uses to make money, up the bottom line, is unimportant as long as the bottom line goes up.

Of course “the company” may pretend to care about the people who work there so hard….but it took me a long time to realize that “the company” or the “hospital” or whatever you want to call it, does NOT care about the “human resources” as anything more than a RESOURCE to be used and exploited.

There may be some individuals who work for”the company” who care about people, but they won’t last long in anything except middle or lower management.

There are more Bernie Madoffs in “financial companies” than Mother Teresas. So as long as you know what you are dealing with, and therefore can protect yourself, it should help you survive “the company” where you work and realize that your pay check is the only “love” and “loyalty” you will get from “the company” you should be okay!

Excellent comment Oxy – as always. I so tend to believe that the hard work and excellent service I try to provide my clients matters but sometimes I find out to my dismay it does not! That is when I always need to take a good hard look and realize my priorities are a bit out of order…

As for the article, I do take issue with the last statement the author makes “In attempting to understand the complexities of what went wrong in the years leading to 2008, I’ve developed a rule: “In an unregulated world, the least-principled people rise to the top.” And there are none who are less principled than corporate psychopaths. ”

His premise is that the regulations are written fairly and in order to keep the psychopaths in check. What we see here in the US anyway is that psychopaths in finance and in government have colluded to create regulations that benefit them and protect them from honest competition by honest people. When Goldman Sachs is in the backroom writing “the regulations” you can be sure as shootin’ that while to the blind it looks like they are adding fees and checks and balances to their processes but truthfully what they do is create barriers to entry for others and then they pass the cost of the fees and regulations on to the customers who have no new options….because Goldman and Barnie Frank and Chris Dodd have made starting a new business in the industry impossible. This is not new.

Breckgirl,

I think the psychopaths have been the “rulers” in resource distribution since we were in caves…they had no concern for others, so they took the most women, the most food, and the most of whatever goods were avaialbe.

Now they are in banks, stocks, company CEOS and they do the same thing only now it is represented by “money” and paper, and they manipulate it to acquire the goods.

Workers are only one of the resources that they manipulate to achieve their ends. There is no loyalty to the workers any more than there are to the widgets or the trucks or the backhoes or assembly lines.

For a while Unions represented the workers against the corporations, but even they became corrupt with the psychopaths rising to the top in the Unions like cream rising to the top of milk. That’s just what happens and the unions then represent the big shot psychopaths in their corner offices instead of the workers\ they claim to represent.

Some industries are controlled by the unions and if you don’t join the union you do not work. Period.

I think in most cases the psychopaths will rise to the top in politics, industry and any other way that they can control the money. They have the advantage that they will climb over their peers with hobnailed boots to get what they want. Makes the climb much easier for a psychopath than for someone with a conscience and empathy for the man /woman he fires or uses.

Breckgirl,
Exactly. Regulations or not, we are screwed as long as psychopaths exist. Rule and regulations mean nothing to them, they will simply meddle in that as well. They are attracted to authority and authorative positions.
My own spath loved to use the police to attack his victims. So the rules and regulations were usurped in his service.

The only solution is education so that we recognize red flags and then to refuse to participate. We’ve seen it in our personal lives and we can see the same principles apply in the greater scheme of things.

Spaths will create the problems JUST SO THEY CAN OFFER A SOLUTION. The solution then empowers them and gives them more control over your life. My spath did this all the time. It’s one of his chief operating procedures. In my case, even before I met him, he had sabotaged my car so that he could offer to fix it when nobody else could. I felt indebted to him and agreed to date him, that was his foot in the door.

Over the years I watched him “fix” so many people’s airplanes and helicopters, so that they became his good friends. Not all of them survived, but the “fixing” is done illegally (without a mechanics license) so that the victim never told anyone that spath was working on the aircraft.

This cycle of causing problems and offering the solution is a classic spath red flag. It is seen when a drug pusher creates addictions and only they can “solve” your dilema. And it is observed in the trauma bond, when the spath love bombs then takes love away. The resulting feeling is that only the spath can salve the hurt of his rejection.

I submit that the bubbles in finance are exactly the same thing. They create the illusion of wealth and easy money, then they take it away. They offer to fix it if only you will give them MORE control over your lives and more money, of course.

It is unfortunate because deregulation fails as miserably as regulation does where spaths are involved. Only NC works with a spath. Don’t feed them your money or emotions.

Legislating regulations and rules doesn’t work really well.

Some examples:

It is a crime to murder people. There are still many murders each year

It is a crime to rob a bank: People still do it

It is a crime to smoke marijuana, snort coke, and other drugs, yet it is the biggest single business in the US

It is illegal for minors to get cigarettes and alcohol, yet the majority of 12 year olds have tried both

It is illegal for an adult to have sex with a 10 year old—yet how many pedophiles are there having sex with children

It is illegal to drive stoned or drunk—how many people do it anyway.

It is illegal to text and drive—how many people do it anyway

And so on, name the law, name the regulation that is followed by those who do not respect any laws. There are none that are not broken.

All a law does is codify what we can punish folks for IF WE CATCH THEM.

Catching a bank robber is easy compared to catching a banker who is stealing or insider trading which is one way they succeed.

This is kind of a funny article to me. My X! husband finally admitted that he hated ranching and as a man who loved to get one over on people, I suggested investment banking. He interviewed and of course, the local honchos LOVED him. The last little qualification was that the head corp office wanted all applicants to take a personality test. And YES, I knew considering who he showed himself to be, my advice was mean spirited but I did it anyway. I advised him to answer as truthfully and sincerely as he could. He FAILED the personality test. To this day, I don’t know if it was b/c he LIED and answered what he THOUGHT they wanted or if it was B/c he followed my advice to be truthful, which would have revealed him to be deceitful (in which case, I expected them to HIRE him).

The ONE time my x! husband was outed as failing a personality test, it was by a corp test for investment bankers! In spite of failing though, they all dismissed the results, thinking it was some anomally, that it could NOT possibly be true. Even though it was the SAME test they took to get their positions! Funny? Well, I got a chuckle out of it.

I worked for an international investment bank. My direct supervisor was a lying, manipulative sociopath who would throw his mother under a bus to get a bigger bonus — then brag how he pays for her medical expenses.

This sociopathic “relationship” ruined my career and my health. I met my x-spath just before I was illegally terminated and in essence, I was simultaneous victim to two sociopaths.

For legal reasons, I cannot name my former employer. Publicly, its face is one of “integrity and responsible corporate conduct” yet is has been part of every major financial scandal at least since World War 2. The fine for one of their illegal activities is the largest ever paid by a financial services company.

Not coincidentally, it is a leading provider of financial services to the very wealthy, with one of their scandals a scheme for wealthy Americans to avoid tax payments.

BBE that is why I think you need to take up a new career one where you are not forced to associate with or be a psychopath. I got out of mid-level hospital management because I did not like treating those under me like dirt….and working them like slaves, and lying to them. I went into rural health clinics as a health care provider and fortunately had a powerful and great doctor as my direct boss for 10 years….we took care of patients and to heck with the hospital’s agenda…then for 4 years I worked for a college as health care provider for the kids and it was wonderful…until a new boss came in that I have NO DOUBT was a psychopathic CEO president of that college and he cut my job to part time which nixed my insurance and other benefits and the hospital said for all those years of loyalty (they actually employed me, and rented me to the college) Find yourself another shift somewhere so you can keep your benefits, here’s a list of where we need nurses.

The manager at the hospital I think is high in P traits and she is now the TOP dog at another hospital. I could go on with what this woman did to other employees for years and years that she was over the clinics. As far as I know every manager they’ve had over the clinics was a cut throat high in P-traits manager. I couldn’t do that.

Retirement is nice. I’m my own boss. LOL But the pay sucks!

Ox;

I am casting a broad net and will this time listen to my gut instincts. I readily admit to having warning signs regarding my sociopathic x-boss and with the x-spath but I proceeded with both.

More my x-boss. We actually worked together in a previous company. I was a consultant there and he was a full-time, but organizationally we were at the same level. Then, I had mixed feelings about him, and in the two years I knew him, he was not doing anything other than looking for another job.

His resume was a best highly exaggerated.

Any time there was an issues, his first response was to look for blame. Of course I would become one of those.

He never accepted calls from anyone less than his level.

He continually lied about status.

In 2006 and 2007, when Wall Street was booming and the company was actively hiring, he only allowed us to interview people from his wife’s placement firm.

My former employer did catch on to his management ineptitude. He left via a voluntary layoff, having effectively been demoted to a figurehead manager. Of course there is no justice in this world, as he is now the CTO of small West Coast firm.

Regarding his placement firm conflict of interest with his wife, this seemed to be the norm, not the exception. I can name a Director, Executive Director, Managing Director, right up to the CIO, each having a “preferred” placement firm.

@ Oxy’s 1st comment. My ex was hired for a gvmt position because he had a reputation as “nut-twister” No background check was done on him because he was so smooth and women loved and promoted him and gave him a security clearance. When he finally divorced me after sucking the life, money, love and anything I valued out of me, his reason was that God told him to go in one more time and grab anything that he can. I have kept a journal and looking back can not believe what I endured and allowed.
PS ”“ he goes to church on sundays, tithes and wanted a elaborate copy of the 12 commandments to hang on his office wall. The plan was to tell anyone that came to his office, that if they could not go by the “rules” (12 c’s) he would not have anything further to say to them

Somebodysdream,

I had to chuckle at your ex with the 10 commandments and that he goes to church every week. Mine does too. I think it’s the reason I have difficulty with organized religion. Too many people seeking absolution every Sunday for all the atrocities they are responsible for the other six days of the week.

Be well.

~New

I just wanted to make a quick comment: the rules DO matter. Skylar’s comment above (reply to Breckgirl) is absolutely spot on! I went into governance and audit due to experiences in my old firm after certain spaths got control of my division after a company reorg.

In my audit course one of the first things we learned is that you are only allowed to audit to “the rules and regulations”. Even though something you find may be immoral, even though it may be non-sensical, even if it is obviously driving the company towards a cliff, if the rules/regs allow it there is nothing you CAN say about it.

The only thing you can do is hope that someone internal to the organization is smart enough, and there are decent people left high enough up to listen, to influence the company back to having a better set of rules.

Oxy’s point is also valid, that laws don’t stop some people from committing murder. But they do stop some. And those laws/regulations are the only ‘hard-ass’ tools we can use to stop people like that, because all the criminology and investigation efforts are based on those ‘rules’.

The other thing you need are good checks and balances, for everything you do in life. You need a way to find out how far off ‘acceptable’ you are at any given time. That’s why the friend who has the courage to tell you you’re being a jerk at the moment is a better friend than the one who coddles and enables your bad behaviour. Same thing with financial institutions.

corporate physcopaths? as in mr. perry?

@ new beginnings. He actually had subcategories to the “12” commandments to expand the interpretation to fit his purpose. You and I might want to reel him in and set the record straight, however, what’s the cost?

@ somebodysdream. God help anyone who works for him. The cost of anything to do with a P is TOO high. There is no saving others from a specific P’s wrath…..only more to lose.

Here is a response to an inquiry I made about a position for which I am well-qualified, having performed a similar role at another company for nearly 4 years.

“I am glad that you are better and have overcome your health obstacle. I unfortunately won’t be able to help you find a Full Time position. But I may be able to help you with a consulting role if one arises that is right for you.

Since I am a “Headhunter” firms pay me to find them specialized people and history dictates that I won’t be able to place someone fulltime if they have been out of work for more than 6 months. In all my 24+ yrs in this business , I have never placed anyone out of work for more than 4 months or so.”

BBE–So in other words, you are sheet out of luck in ever finding another job because you were out of work for a while…they won’t even TRY to find you work….

Yep, that is a problem and I know I have read about this being a problem with people that have been out of work, no one will even be interested in them and will hire a new grad rather than someone with experience that has been out of work.

Also, bad health is another thing because if a company has employees on their health plan that are “very sick” or likely to be, they can’t legally discriminate against them, but they don’t want them. It raises the price of their insurance if you get sick again.

I think, BBE, that you may be in the position that you have to start your own business or pal up with someone you know and trust and start a consulting business of your own since you can’t get hired and the head hunters don’t even want to try to place you. Good luck.

Ox;

Interestingly, this is far less of a problem in all those heathen European countries. I am more healthy than most adults, just had a bad situation.

In a sense, this email actually has me motivated to prove them wrong.

BBE, Good luck in either finding a job or creating one. Sometimes CREATING a job is the best revenge and works out well, so do whatever you think is your best and biggest option!

Thanks. Perhaps a good dead from my past, hiring two women who had taken a significant time off work to raise children will give me some good Karma.

But we really need to think what way this country is headed. Only when healthcare is universal will people like myself not be discriminated against.

BBE, there are a lot of problems with this country, and health care is only one of them.

I hired a nurse once who had been off 13 years to raise triplets…she had some catching up to do but she was great!

If you can’t find a “job” though, then you have to “think outside the square” and find a need and fill it. In the end, that is what a “job” is, isn’t it. Maybe you should apply for jobs in Europe or the UK, or some other area of the world if your health and being off work wouldn’t be such a problem in those areas.

You’re a bright young man, and I’ve seen the pictures you posted a while back, and so there;s no reason you can’t find some form of work, either for yourself or a company. Good luck.

Hi BBE,
We’ve never posted before.ge gap in my resume due to the spath and having i’m not sure what your health situation is like but here is something i have personally decided to do that might help you.
Don’t tell them. In my case i had a very large time period where i wasn’t working due to the spath and having jr. whereas my resume is great I realize the gap hurt. ironic considering the economic state.
My point is having a baby in my industry is like having health issues…both can be discriminated against. I created my own company (it’s very little $-my client base is small) however I was able to update my resume with my corporation info and that eliminated the gap. I do not lie..or bs however the gap is filled and interviews are beginning to come around.
fill the gap and don’t mention your health. I have decided to not mention my child. if it is essecially illegal for them to ask why volunteer the information.
good luck bbe- i know its tough!

BBE, I think that is a great idea, coping!!!! Thank you for suggesting this. See how great LF is? Even employment advice! LOL

Coping;

OMG yes! For my continued “traditional” route, I will take that approach. How far did you go in creating a company?

BBE,
I incorporated an LLC…, if your in the states takes all of 1-2 days (and can be done online) and depending on the state will cost you around $150.00 average for processing costs. Some states its actually free.
As soon as you get your Fed ID # set up an account at any bank. I chose one that had a $0 cost start up fee….with no bank fees for 3 months. You get your checks, Debit card ect..and your in.
I actually had a client I was involved with (LOL very little $…not even to get by but I refer to it as diaper and baby essentials..LOL). Something is better than nothing… I had always assumed I would eventually use this as a part time job once I secured a real job…for extra cash as salaries are not what they used to be. Besides the tax write offs for internet, phone, ect. I had hoped would eventually be helpful as well.
Its easy as pie….maybe this will work for you. I still need to secure a “real” job but this keeps me going and as stated before filled the gap.

I’m not sure but even if your not in the states but have ties somewhere this could work as well.
I choose an LLC instead of an S-corp..but really you can do whatever works best for your situation.

BBE;
Sorry I did not answer..I got sidetracked. Bottom line I did the very minimal to get what was needed.
If you are high up on the food chain remember..your potential clients..could be fellow friends or associates.
BBC Consulting Services can be anything you want it to be.
When asked at an interview “Why do you what to work here” Remember you can always say ” I enjoy servicing my clients but I miss the constant activity of the work place. I work from home and social interaction is something I miss and strive for. ect, ect, ect.”

Thanks for all the responses as there have been some good ideas. I should have gone the route of a setting up a business when I was first illegally terminated; my fear in setting one up now is that a quick check will show it was only recently incorporated.

I have several ideas to hopefully generate some cash so I do not continue to burn savings.

I have also pressed my lawyer one last time to get my former employer to agree to a cover story saying I was a consultant from November 2010 to May, 2011, essentially the period from when they agreed to arbitration and when we settled. I have a rather larger 1099 form and check dated at the end of April, 2011 that fits with consultant story very well.

I have been doing a lot of network, something i was never good at and need to address. Interestingly, one reason why I was bad at networking is that the New York City job market, even excluding Wall Street, is full of Narcissists (and Sociopaths) so my red flags were always up.

Finally, I am still taking the direct and honest approach. I have actually gotten good at taking a job posting and tracking down the company and internal contacts. However, I do think I should be a bit less honest and state “Family Medical Leave” at least to get into the door.

Ox;

London was very much on my mind when I met the x-spath and had I not met him, I would have gone there in 2009 instead of Canada. A year ago, relocating was very much on my mind, but over the last year and in particular the last several months, I have come to value my family and friends and don’t want to leave the NYC area unless absolutely necessary.

I have rights to an Irish Citizenship that I put off applying for, as I did not want to have that and use it for a “geographic” to Europe. However, yesterday I sent off the paperwork. I have several contacts in London and if need be to get going, I can work there for a year or two, even if it means crossing paths with the x-spath!

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