Nine of Ten Failing Banks Headed by Former Fraternity Officers

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Dr. Victoria Chang of the University of California, Berkley reported presented a paper last week at the International Congress of Sociologists describing her research which found that slightly more than 90-percent of banks in the United States rated as failed or likely to fail by an independant auditing board are headed by men who were officers in so-called "Greek" organizations in college. Dr Chang added that "Most of the remaining ten-percent were headed by individuals educated in nations where American style fraternities do not exist."

Congress participants were bowled over by the extremely high correlation between a history of heavy fraternity involvement and bankruptcy. "I've never seen anything like it" said one participant. "Most researchers dream of this level of significance in their work but don't even come close. I am as impressed by Dr Chang's finding as I am appalled at the sickness in our society it illustrates."

Dr Chang provided several reason for the relationship: "Firstly, it is well documented that membership in these exclusive type organizations renders young, undeveloped personhoods into even more immature and narcissistic individuals. Fraternity, as well as sorority membership, deeply instills the adolescent traits of self-centerdness, obsession with status and ruthlessness. At the same time it provides the members with the just the kind of ultra self confidence and political skills which propels these type personalities to the top of corrupt, socially sick organizations where they are in a unique position to do extreme damage to the greater population. "

Another congress participant added: "We've all looked at these kind of groups as amusing or annoying. Now we know they are an endemic pathology which must be arrested before these types bring us all down."

Dr Chang offered a fascinating example of the fraternity personality from one of the original "Greeks" --Alcibiades, a figure from the Pelaponessian War between Athens and Sparta who lived two thousand years ago. "If you'll notice, most fraternities have a startling disconnect between their charter purpose of promoting Christianity and their actual behavior which amounts to a dogged dedication to debauchery and disrespect of the totallity of Christian tenets. Alcibiades, known from ancient times as the most finished Narcissist who ever lived, was known to have mocked the state religion on the eve before the departure of the Athenian fleet for the horrific disaster at Syracuse. The parallels are chilling."

Mike Benson, President of the National Order of Kappa Sigma, disagrees: "Fraternities mold young men into good citizens. Look at our charitable work. Fraternities enrichen their members, and produce our future leaders."

Others are not so sure about "our future leaders." A sociologist at the University of Chicago who asked not to be named informed our reporter that "We have a working group looking at ways of diminishing the place of fraternity damaged individuals in our society. We will begin by making their place in society a matter of question, so that in the future their displacement can occur. Our long range goal is the barring of fraternity members, and most especially former fraternity officers, from getting their CPA, teaching and stock broker's license. It's a matter of survival for our civilization."