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