Yes, this actually appeared on the pages of Philadelphia’s
newspaper conservative house organ of record today (from here)…
Guys, if you are between 18 and 50 and work in finance, do your country a favor: Get a handle on the potential economy-killer that’s running through your veins, and have yourself tested.
We need to know if you’re a carrier of toxic testosterone.
Not all of you are financial accidents waiting to happen. But some of you are operating at levels that require serious adult supervision.
We know how you hate pain, so let me assure you that it won’t hurt. Just a simple saliva test, and we can tell if you are high-risk. I can even recommend a doctor.
See, the author is arguing here that “toxic testosterone” is behind the near-ruin of our financial markets.
Gee, silly me; I thought it was due to lax-to-non-existent government oversight, continued inflation of the housing bubble long beyond the point where any life form with more than a single cell of brain matter knew it would burst (advocated notably by our supposed financial geniuses including former Federal Reserve Chairman Alan Greenspan), and buyers either obtaining home mortgages without even the slightest qualifications or borrowing relentlessly against the ever-shrinking equity of their property.
But it’s all the fault of males only because of that dreaded testosterone! A-HA!
Given that supposed revelation, I hate to break the news to Susan Antilla of Bloomberg, but here it is; women are guilty of financial indiscretions also.
As noted here, former John McCain campaign adviser (and retired eBay Executive) Meg Whitman “received a ‘package’ worth $10 million in 2007, including $787,936 for personal air travel, and still draws $1.2 million a year as a ‘special adviser’.”
OK, I’ll grant you that that doesn’t exactly qualify as a financial “indiscretion.” However, does anyone think Whitman rates a package like that given the fact that, while with eBay, she bought the Internet calling service Skype for $2.6 billion, and Skype has only made back $551 million as a result (noted here)?
The link above to the prior post concerning Whitman also tells us the tale of Carly Fiorina, another former McCain adviser and former CEO of Hewlett-Packard, whose compensation was slashed from $10 million in 2002 to $6 million in 2003 due to “poor performance,” though she still walked away with a $42 million severance package in 2005.
And this tells us of former New Jersey Governor Christine Todd Whitman, who was elected in 1992 with the help of “voter suppression tactics” admitted by Ed Rollins, her campaign manager at the time. She also cut the workforce of the state’s Department of Environmental Protection, resulting in Whitman earning a grade of “c minus” from “a coalition of environmental and public-policy groups” for her handling of environmental issues.
Also, upon completion of her term as governor, she formed the Whitman Strategy Group and took the chemical company FMC as her first client, which was responsible for cleaning up arsenic-contaminated soil (FMC was responsible for 136 Superfund sites across the country … and had been subject to 47 EPA enforcement actions, according to Source Watch).
(Yes, I know we’re here to talk about financial indiscretions, and these don’t directly qualify. However, I think it shows that high-profile women know how to use and abuse power at least as well as men.)
And last but certainly least, this tells us how former Bushco Interior Secretary Gale Norton bailed as soon as her financial exposure to a certain Jack Abramoff was revealed in the cold light of day.
Oh, and did I mention that, in the article, Antilla appears to endorse the idea of men taking female hormones “to tone down…aggression”?
Perhaps a bit of “toxic testosterone” was at work in some of the money market machinations Antilla is talking about. But only a bit.
Besides, toxic punditry beats that by a mile.