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Jim Sinclair’s Commentary

Sad, but true.

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Jim Sinclair’s Commentary

The Fed bails out the Euro.

Jim Sinclair’s Commentary

Absolutely yes! They fain friendship while they spin the evil webs to steal.

Cohan: Did Psychopaths Take Over Wall Street?
By William D. Cohan Jan 2, 2012 7:01 PM ET

Jan. 3 (Bloomberg) — William Cohan, author of "Money and Power: How Goldman Sachs Came to Rule the World" and a Bloomberg View columnist, talks about an article in a recent Journal of Business Ethics that blames the financial crisis on corporate psychopaths at the helm of financial institutions. Cohan speaks with Erik Schatzker and Stephanie Ruhle on Bloomberg Television’s "InsideTrack. (Cohan is a Bloomberg View columnist. The opinions expressed are his own. Source: Bloomberg)

It took a relatively obscure former British academic to propagate a theory of the financial crisis that would confirm what many people suspected all along: The “corporate psychopaths” at the helm of our financial institutions are to blame.

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.”

As a result, Boddy argues in a recent issue of the Journal of Business Ethics, such people are “extraordinarily cold, much more calculating and ruthless towards others than most people are and therefore a menace to the companies they work for and to society.”

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