Drug Addiction in the Stock Market

Struggles with the economy in recent years and big drops in the stock market have really taken a toll on people’s lives. Not only are people jobless and losing their investments, but their mental health has also suffered. While some people are predicting better times ahead, some areas of the world are still seeing a downward trend as they deal with the effects of a sluggish economy.

Effects of Pressure

In the United States, when times get tough, many people crumble. High-powered stock traders have given up and taken their own lives because the pressure of a failing market was too great. Others turn to drugs and alcohol to cope. There has been concern lately about drugs making their way onto Wall Street. Even those who are making a profit again are tempted by drugs because the industry is so stressful and the drugs are prevalent. In fact, a new depiction of traders is that they are risk junkies who never stop and even use drugs to keep going. People are now questioning the integrity of stock traders who might be working while still high from the night before. Many of us wouldn’t trust our financial future with someone high on drugs, but unfortunately, sometimes you never know.

Drug Testing for Brokers

Countries around the world are seeing the impact of drugs in the stock exchange. Last year in London, a client lost $8 million in a trade gone bad. His oil futures broker was drunk when he made his oil trade, resulting in great losses. This broker was caught and has been banned from working in the stock exchange. Another story in a London paper tells of bars that sell cocaine to large numbers of wealthy stock traders. (1)

This week, the head of Italy’s family and drug-abuse program, Carlo Giovanardi, proposed drug testing for stock traders. He is concerned that too many traders are operating while under the influence, making them incapable of making decisions. He also said that studies in the U.S. have suggested that drug use has made the market turmoil even greater than it should have been. (2)

Treatment for Drug Abuse

Drug use has made its way into every industry, and the stock market is no different. We obviously take steps to ensure the good mental health of certain professionals that directly influence safety. We won’t tolerate a pilot being high or a surgeon getting drunk at work, but a wasted stock trader sometimes slips through the cracks.

An individual who abuses drugs needs help. Whether they are a housewife, a truck driver, or a stock trader, drug addiction is harmful. If someone can’t live without getting high on drugs or alcohol, they need help. There are programs throughout the United States that specialize in treatment for all different types of people. Many executives, including stock traders, feel comfortable making use of high-quality, luxury rehab facilities. The important thing is to get help.

Sources

(1) Markets meltdown leads to surge in City addictions

(2) ‘Worrisome’ link between drugs and bad trades

Italy May Weigh Drug Test for Stock Traders, Undersecretary Says