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Anti-Oedipal Dynamics in the Sub-Prime Loan Debacle: The Case of a Study by the Boston Federal Reserve Bank

  • Howard S. Schwartz
Chapter

Abstract

This chapter looks at the sub-prime loan catastrophe as a product of exclusively maternal psychology, which understands the act of making a loan quite differently than the traditional bi-parental model. For traditional psychology, a loan is a transaction within an objective framework of mutually understood exchange relationships. In exclusively maternal psychology, it is a moral act in which the oppressed are compensated for their oppression at the hands of the father. Repaying the loan is not defined within this framework. This is how loans could be made to people who, it should have been known, would be unable to repay them. I develop this distinction through an analysis of the way an influential study by the Federal Reserve Bank of Boston was interpreted.

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Copyright information

© The Editor(s) (if applicable) and the Author(s) 2016

Open Access This chapter is distributed under the terms of the Creative Commons Attribution Noncommercial License, which permits any noncommercial use, distribution, and reproduction in any medium, provided the original author(s) and source are credited.

Authors and Affiliations

  • Howard S. Schwartz
    • 1
  1. 1.Emeritus Professor of Organizational BehaviorOakland UniversityRochesterUSA

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