Bankers 'Caused Credit Crisis for Kicks'
THE TELEGRAPH: Forget the thorny problems of risk, regulation and even reward: bankers blew up the financial system for the thrill of it, according to one British academic.


A New York trader holding his head in his hands in 2008, as the Dow Jones dropped below 9,000 for the first time in five years Photo: The Telegraph
With a theory that will alarm Business Secretary Vince Cable, Dr Paul Crosthwaite of Cardiff University has argued that bankers and other investors took on excessive risks not just to make money but for the "desire" and "exhilaration" of destruction.

"For its participants and speculators alike, the crash is not simply an object of fear or anxiety, or even of mere fascination, but also of an inchoate but urgent desire," Dr Crosthwaite wrote in an article published in Angelaki: Journal of the Theoretical Humanities. Continue reading and comment >>> Louise Armitstead, Chief Business Correspondent | Saturday, October 23, 2010

I believe that these irresponsible gits should be jailed for causing such pain to others. The fact that they get such huge bonuses for their destruction just adds insult to injury. Fie on them all! – © Mark

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