Suicidal bankers

[bigbadwolf]

Is this the norm?

http://intellihub.com/8th-international-banker-die-month-jumps-building-china/

 

[GoIllini]

1.). In NJ, sunset is still happening at 5:45. Days are quite short in much of the northern hemisphere and the idea to kill oneself may have started earlier.

2.) It's a human right IMHO.

3.) Rich people have the luxury of thinking about other things besides money and supporting their families, and we work in an industry with a lot of unhappy rich people.

4.). If you're working 100 hours/week or under a great deal of stress at work and miserable enough to seriously think about killing yourself, try quitting your job first. I know quitting your job feels drastic, but that is also your right.

 

[bigbadwolf]

My question is: Is the figure really an anomaly? Or given that there are hundreds of thousands of people in finance, is the figure for suicides about usual? Are people trying to connect non-existent dots?

 

[Daniel Duffy]

My question is: Is the figure really an anomaly? Or given that there are hundreds of thousands of people in finance, is the figure for suicides about usual? Are people trying to connect non-existent dots?

Have a look at the wider population and you will see that this is a low number.

http://www.aljazeera.com/indepth/features/2013/07/2013731174919956289.html

 

[bigbadwolf]

Have a look at the wider population and you will see that this is a low number.

http://www.aljazeera.com/indepth/features/2013/07/2013731174919956289.html

I think you're right. People are trying to equate these banker suicides to 1929, when (supposedly) many in Wall Street hurled themselves from ledges.

In my opinion there will be another global financial implosion dwarfing that of 2008, and its epicentre will be the sagging USA. At that time we may see a jump discontinuity in the number of banker suicides. It's still early days yet.

 

[Daniel Duffy]

Bankers lose a job and clients' money. That's nothing.

The Italian entrepreneurs lose everything, the business, employees and a complete way of life.

 

[daleholborow]

There are italian entrepreneurs now? This came to mind:

http://www.economist.com/node/18780853

 

[Daniel Duffy]

There are italian entrepreneurs now? This came to mind:

http://www.economist.com/node/18780853

The pattern is repeating itself elsewhere as well.

edit: and it's not just entrepreneurs ...

 

[Menascyn]

Bankers lose a job and clients' money. That's nothing.

The Italian entrepreneurs lose everything, the business, employees and a complete way of life.

It must be a completely awful, gut wrenching feeling to not just fail yourself, but also every employee.

 

[GoIllini]

I think you're right. People are trying to equate these banker suicides to 1929, when (supposedly) many in Wall Street hurled themselves from ledges.

In my opinion there will be another global financial implosion dwarfing that of 2008, and its epicentre will be the sagging USA. At that time we may see a jump discontinuity in the number of banker suicides. It's still early days yet.

This will only happen when you and everyone else who believes this is a possibility stops participating in the market... My hunch is in 70 years.

Also in reality, the fed has the ability to set a floor on the nominal value of the stock market. I think you've been spending too much time posting on peakoil.com and not enough time looking at the unemployment or consumer savings rates.

 

[bigbadwolf]

Also in reality, the fed has the ability to set a floor on the nominal value of the stock market. I think you've been spending too much time posting on peakoil.com and not enough time looking at the unemployment or consumer savings rates.

This could be the subject of an extended discussion since I've been giving some thought to this. Finance has some tangential and tenuous connection to the real world (otherwise we may as well play the board game Monopoly). It's that real world -- peak oil and other disturbing things -- that's the problem. Finance is being used to replace chunks of that real world with fictitious and holographic components, or "extend and pretend," as some put it. But at some point the shadowy and fake world of finance will fold in on itself -- it depends ultimately on that pesky real world out there, which is in deep trouble.

 

[Daniel Duffy]

It must be a completely awful, gut wrenching feeling to not just fail yourself, but also every employee.

I would say that indeed. And the families...

 

[pacman]

Triad

 

[bigbadwolf]

http://www.theatlantic.com/business...ankers-are-so-miserable/283927/#ixzz2tyoF1TeF

For my new book, Young Money: Inside the Hidden World of Wall Street’s Post-Crash Recruits, I spent three years shadowing eight young Wall Street workers, including Jeremy and Samson. Given the rollicking depictions of finance life we see in movies like The Wolf of Wall Street, and the fact that these jobs are extremely well-paid—first-year investment bankers make anywhere from $90,000 to $140,000, including year-end bonuses—you might think that my eight banker informants were living the good life. But in three years, hardly an interview went by without a young banker confessing his or her struggles with depression and health problems, expressing a desire to quit, or simply complaining about how working in finance was ruining the pleasures of normal life.

 

[okmijn]

Another one today ...
http://www.businessinsider.com/banker-dead-in-apparent-suicide-2014-3

 

[MNRC]

I think there is something serious brewing. Whether the public finds out or not is another matter...