A Crisis Only Men Could Make
What Brought Down the Financial Sector? Testosterone
Matthew Syed of The Times puts the blame for the market crisis not on mortgage-based securities but on men and their competitive natures. “The market became too primal, too dominated by men and their baser instincts.” What if, he asks, women were running the trading desks of the now-endangered financial powerhouses. A psychologist he interviews says, “The problem in finance is that there is too much thrusting individualism and not enough femininity.” A significant number of women in the industry, instead, might change the ethos and reduce the risk of another greedy rush off a cliff. But not everyone is convinced that men are the only ones who thrust too hard and too riskily in the City and on Wall Street. For one, see the comments of readers at the end of the article.
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