(Washington, DC 4/15) I’ll go for that. The financial meltdown can easily be seen as a bunch of strung out coke heads trying to fix what they knew they’d broken: grandiosity, pressured speech, bad judgment after bad judgment, avarice, greed, and abandonment of any pretense of morality. (Image: 401K 2013
Dr. David Nutt, MD, chair of the British government’s Advisory Council for the Misuse of Drugs (1998-2009) and professor of pharmacology and psychiatry, Imperial College London, said this in an article just published by The Independent today:
“Bankers use cocaine and got us into this terrible mess,” he told the paper adding that the drug made them “overconfident” and led to them taking more risks. The Independent April 15
So, which bankers is he talking about? Inquiring minds want to know!
It is no secret that cocaine is the rich man’s crystal meth. The drugs are remarkably similar in the negative effects on work performance and risk taking. Coke costs $100 a gram and meth is so cheap it’s practically free.
Were the big boys on Wall Street doing coke when they had the secret meeting where they carved up the investment banks, deciding who survived and who tanked?
Was bailout planning at those late night White House meetings in 2008 fueled by lines of coke snorted with freshly minted Franklins?
The whole thing sounds like a drug crazed event, doesn’t it. A bunch of self-proclaimed geniuses realizing that they’ve ruined their business come up with a crazy plan to save their firms (most of them) and their lifestyle. They get one their own, who just happens to be Secretary of the Treasury, to bankroll their mistakes (an worse) and they just keep going while the rest of the country struggles on for years to recover.