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Beware corporate psychopaths

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treesparrow:

--- Quote ---Brian Basham: Beware corporate psychopaths – they are still occupying positions of power

Outlook Over the years I've met my fair share of monsters – rogue individuals, for the most part. But as regulation in the UK and the US has loosened its restraints, the monsters have proliferated.

In a paper recently published in the Journal of Business Ethics entitled "The Corporate Psychopaths: Theory of the Global Financial Crisis", Clive R Boddy identifies these people as psychopaths.

"They are," he says, "simply the 1 per cent of people who have no conscience or empathy." And he argues: "Psychopaths, rising to key senior positions within modern financial corporations, where they are able to influence the moral climate of the whole organisation and yield considerable power, have largely caused the [banking] crisis'.

And Mr Boddy is not alone. 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."

Cut to a pleasantly warm evening in Bahrain. My companion, a senior UK investment banker and I, are discussing the most successful banking types we know and what makes them tick. I argue that they often conform to the characteristics displayed by social psychopaths. To my surprise, my friend agrees.

He then makes an astonishing confession: "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.

Mr Ronson spoke to scores of psychologists about their understanding of the damage that psychopaths could do to society. None of those psychologists could have imagined, I'm sure, the existence of a bank that used the science of spotting them as a recruiting mechanism.

I've never met Dick Fuld, the former CEO of Lehman Brothers and the architect of its downfall, but I've seen him on video and it's terrifying. He snarled to Lehman staff that he wanted to "rip out their [his competitors] hearts and eat them before they died". So how did someone like Mr Fuld get to the top of Lehman? You don't need to see the video to conclude he was weird; you could take a little more time and read a 2,200-page report by Anton Valukas, the Chicago-based lawyer hired by a US court to investigate Lehman's failure. Mr Valukas revealed systemic chicanery within the bank; he described management failures and a destructive, internal culture of reckless risk-taking worthy of any psychopath.

So why wasn't Mr Fuld spotted and stopped? I've concluded it's the good old question of nature and nurture but with a new interpretation. As I see it, in its search for never-ending growth, the financial services sector has actively sought out monsters with natures like Mr Fuld and nurtured them with bonuses and praise.

We all understand that sometimes businesses have to be cut back to ensure their survival, and where those cuts should fall is as relevant to a company as it is, today, to the UK economy; should it bear down upon the rich or the poor?

Making those cuts doesn't make psychopaths of the cutters, but the financial sector's lack of remorse for the pain it encourages people to inflict is purely psychopathic. Surely the action of cutting should be a matter for sorrow and regret? People's lives are damaged, even destroyed. However, that's not how the financial sector sees it.

Take Sir Fred Goodwin of RBS, for example. Before he racked up a corporate loss of £24.1bn, the highest in UK history, he was idolised by the City. In recognition of his work in ruthlessly cutting costs at Clydesdale Bank he got the nickname "Fred the Shred", and he played that for all it was worth. He was later described as "a corporate Attila", a title of which any psychopath would be proud.

Mr Ronson reports: "Justice departments and parole boards all over the world have accepted Hare's contention that psychopaths are quite simply incurable and everyone should concentrate their energies instead on learning how to root them out."

But, far from being rooted out, they are still in place and often in positions of even greater power.

As Mr Boddy warns: "The very same corporate psychopaths, who probably caused the crisis by their self-seeking greed and avarice, are now advising governments on how to get out of the crisis. Further, if the corporate psychopaths theory of the global financial crisis is correct, then we are now far from the end of the crisis. Indeed, it is only the end of the beginning."

I became familiar with psychopaths early in life. They were the hard men who terrorised south-east London when I was growing up. People like "Mad" Frankie Fraser and the Richardson brothers. They were what we used to call "red haze" men, and they were frightening because they attacked with neither fear, mercy nor remorse.

Regarding Messrs Hare, Ronson, Boddy and others, I've realised that some psychopaths "forge careers in corporations. The group is called Corporate Psychopaths". They are polished and plausible, but that doesn't make them any less dangerous.

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.

Brian Basham is a veteran City PR man, entrepreneur and journalist
 
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_http://www.independent.co.uk/news/business/comment/brian-basham-beware-corporate-psychopaths--they-are-still-occupying-positions-of-power-6282502.html

bngenoh:
Beware indeed,

This video by LarkenRose on youtube: http://www.youtube.com/watch?v=2oHbwdNcHbc&feature=g-all-u

Was very excellently done, and I thought that "The Jones Plantation" was awesome. The one's behind those videos are pretty amazing individuals, osit.

JayMark:
Beware quite indeed!

Corporations are ruling the political and economical system(s).

Big question is: how are we going to defeat them?

Short anwser is: we can't.

Nature has it's ways to restore things though. STS/Entropy ultimately leads to dissolution into nothingness which is the STS way of becoming One.

InTheWind:
We can defeat them.  There is usually financial illegalities or irregularities where these people exist in corporate settings - whether it is government, religion, or business.

People should know how to recognize mobbing, gas lighting, and crazy making.  It can be uncovered in employee surveys like government has done since Gore's reinventing government days.  These are the same surveys and tests Boddy has use in his research for his book about corporate psychopaths.

Financial audits should be administered when surveys indicate problems.  When the associated manager does the explain-away it should be recognized as a known pattern.

The financial audit done altruistically will bring the facts and the offender(s) should be held accountable to the fullest extent.

Cleckley writes that this can be controlled through accountability.  I have to agree.

JayMark:

--- Quote from: InTheWind on August 06, 2012, 01:08:26 PM ---We can defeat them. 
--- End quote ---

Have you read the Wave series yet and the psychopathy studies also found on cassiopaea.org?

I suggest you do. Psychopaths run the big show here. They can't be defeated. They control every aspect of society. They are the law.

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