Market's 'mania' and 'bulimia' revealed

Economy is in a purge phase, says management expert

SAN FRANCISCO — Gary Hamel, a strategist on management practices who has consulted with major U.S. companies, described "bankers’ bulimia" as he summed up the contributing factors to the housing slump and credit crunch.

"Bankers are as susceptible to manias as Japanese teenage girls," said Hamel, as he displayed an image of youths wearing wildly colored, mismatched socks.