Friday, 13 September 2013


These tragic stories demonstrate that the world's financial system is dominated by drug crazed, brain washed, once talented and intelligent, but now wasted, lunatics. These mad people are the cream of the industry, trusted to gamble with billions and trillions of our money. Are they good at it? Do they do any good for the world? Absolutely not. We, We The People, We the Taxpayers, are still paying off their 2009 gambling losses - of $3 trillion; which is equivalent to 8 million decent real jobs for 10 years.
The techniques used by their employers to break any ethical, conscience led behavior - so that like the child soldiers in the Congo, they will slaughter or cheat their families, neighbors and friends and entire nations - are the same techniques used in brain-washing and torture. Sleep deprivation, continuous light and noise, massive drug overdoses, bullying, social isolation, no love or pity, crammed with gross amounts of "approved" data, disorienting (error strewn) arithmetic formulas, and fiercely imposed cult values. Their minds are filled with cult economic claptrap - killing their natural humanity and empathy.

Many survive with their lives - long enough to grab several million dollars for themselves, banked offshore tax-free, gouged from the pockets of workers and consumers in the Real Economy. But as Professor Alexandra Michel (below) makes clear - they are damaged for life. To do the Wall Street or City jobs "well" they have to be turned into psychotic sociopaths; made mentally ill.

Every cent or penny this crazed Money-Economy industry "earns" is loaded onto global prices for the rest of us to pay. When their ill considered, over complex, algorithmic incomprehensible bets go wrong - all their fellow citizens, the despised "ordinary simple folk" pay through our tax-dollars.

It is the Real-Economy that generates all the wealth in the world. These sad clowns are just bookkeepers - who are supposed to keep accurate records of the Real Economy. But, they are trained to distort the books - keep two sets of books - and cheat the world. We don't need them - the world has computers - these sad lunatics are an expensive sickness we should cure and eliminate - and put the books straight. Repatriate the $32 trillion these madmen and mad women have buried in tax havens. NOW would be a good time.


This BBC Report on the subject cannot be improved on:

12 September 2013 Last updated at 00:25

Pushed to the limit as a banking intern

Last month, 21-year-old intern Moritz Erhardt died while nearing the end of a summer placement at an investment bank in the City of London. Reports suggested he had worked for three days and nights in the run-up to his death, and the incident has prompted a review of the working conditions for junior staff at the bank where he worked.

One former intern and junior banker who worked in the City of London spoke to Radio 4's The Report about his experience. You hear questions in interviews about how hard do you work, are you willing to put in the hours, are you willing to stay late? The answer we'd always look for when we were interviewing candidates was "as hard as is necessary". But you only really understand what goes on when you get on to the desk and you sit there on your first day and you see the clock. It's nine at night, and no-one has left. The clock hits 10, 11 and 12 and still everyone is there.

You are told you stay and you work until the work gets done. But the problem there is that the work always keeps coming. I ended up doing an all-nighter in my first week as an intern, which is when you start work at nine, you stay until five or six the next morning, you go home, have a quick shower and then head back into the office and continue working. And I think the really bizarre thing about that is, as an intern, you're almost functionally useless to your desk. You're not really adding anything, you're not really doing anything, you're just one more warm body.

But because everyone else on the team is doing it, the expectation is that you are there and you are willing to be there at the same time even if all you are doing is looking over someone's shoulder. I've lost count of the number of times I did that as an intern.
Within six months of starting, I was looking for another job because I knew that I couldn't keep it up.

Substance abuse 

Alexandra Michel, professor of management and organisation at the University of Southern California Marshall School of Business, studied a cohort of bankers for nine years. After four years, she observed that many of them who had worked 100-120 hours a week suffered from chronic back pain, auto-immune diseases and insomnia.
Performance also suffered. While technical skills like doing complex sums were unaffected, she says creativity, judgement and ethical sensitivity declined after four years of working long hours. Prof Michel also identified problems with addiction, anxiety, depression and other health complaints that could not be diagnosed but were induced by stress.
First of all, you can just roll with it, be incredibly sleep-deprived and function far below normal. The second way is you can try and get what sleep you can and that involves stuff like finding a cubicle in the toilet and leaning against the wall and sleeping for 20 minutes there.

A friend had this technique of putting a book or some papers on her desk, putting her hands to either side of her head and then she would have her hair fall in front of her head. You couldn't see that she was actually fast asleep. And the third way, and one which is, I think, increasingly common, is you use a sort of substance to help you stay up. 

Lots and lots of people, particularly Americans, will use Adderall, Ritalin and Modafinil. Adderall and Ritalin are ADHD drugs and Modafinil is an anti-narcoleptic which basically shuts off your brain's desire to sleep.

The first two are prescription-only and I think people either have friends who have prescriptions and buy through them or, in the case of Modafinil, you can basically find a website and it will be shipped to you from East Asia. I took Modafinil I'd say four to five times a week during busy periods. It feels a bit like you have had a cup of coffee but without the jittery effects coffee gives you and you just stay quite steady, quite focused, quite alert. 

You notice yourself become less functional mentally, so you can feel your abilities drop off but there's none of the tiredness which normally accompanies that.
I would just be a lot more prone to getting into verbal arguments with people, having a few fights with my girlfriend, and just a lot more defensive about everything I was Doing. Blackberry smashed There was one evening where I said to the senior guy I was working under: "Look, I'm going out to dinner for an hour. This is the name of the restaurant. This is where my table is. It's for a family 50th birthday. I have to be there and I'm coming straight back." During dinner I started getting angry emails on my Blackberry saying, "Where are you? Come back to the office now." I went back and the guy was so angry that I'd stepped out that he hurled a Blackberry across the room. It hit a glass wall and smashed. A few of the mid-level guys took me aside and said: "He's not very happy. You need to up your game a bit. You need to be more available." In these sorts of places you get a reputation if you're not happy and willing and accessible. 

The banker spoke to The Report's Phil Kemp.
You can hear more about his story and others like him in The Report: Sleepless in the City on Radio 4 at 20:00 on Thursday 12 September.

 Generic image of a stressed businessman

 Related Stories City intern death prompts review City intern death sparks debate

Alexandra Michel

Alexandra Michel, professor of management and organisation at the University of Southern California Marshall School of Business.
Market Watch

Bank of America intern dies after pulling multiple all-nighters to impress bosses

August 20, 2013, 9:36 AM - A 21-year-old intern working at Bank of America in the firm’s London office over the summer has died, according to media reports. Moritz Erhardt was part of a seven-week internship in the firm’s investment banking division and it was towards the end when he apparently collapsed in the shower in his apartment, according to a report in the London Evening Standard.
Reports suggest Erhardt had epilepsy and may have had a seizure. Erhardt had been working very long hours in his internship, as much as 15 hours a day, according to several media reports. Authorities are treating the death as non-suspicious. Students said Erhardt could have collapsed from exhaustion.


Swiss labour watchdog inspects Goldman Sachs over working hours

Goldman Sachs’s offices in Zurich were inspected by a labour watchdog following a complaint by an employee group that it kept inadequate records of working hours and overtime.
In Switzerland, the financial crisis has piled additional pressure on employees in a traditionally fast-paced industry, which generates 6 per cent of the nation’s gross domestic product.

Reuters 12 Sept 2013

Ackermann rejects blame for 'tragic' Wauthier suicide

Speaking to reporters in Berlin at the presentation of a biography that depicts him as a hard-driving perfectionist, the former Deutsche Bank (DBKGn.DE) CEO described the death of Pierre Wauthier as a "very tragic event".

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