In an award-winning paper published in the journal Organization the author analyzed the behavior of bankers, politicians and economists up to and including the GFC. His diagnosis: collective mania where these people showed symptomatic behaviors such as denial, omnipotence and triumphalism. The system, he believes, behaved like a psychologically disturbed individual and those errant symptoms are still present and will inevitably lead to another crisis. I have noticed the same behavior in organizations. In fact I have, for a long time, thought that you could diagnose corporations and firms in the same way that you could individuals. Some are normal, some depressed, some manic, some bipolar and many schizophrenic.