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Old 16th October 2009 | 17:21
  #55 (permalink)  
bear11
 
Joined: Nov 2004
Posts: 272
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From: Ireland
PJ2, re; your finishing comments and GXERs, I would suggest that CEOs/MBAs don't need to get it. The only cure for this is the legislator/regulator - someone, to a certain extent, who has been long-absent in many forms of commerce given it hasn't fit the "pro-business" (Thatcherite) mindset we have seen in many governments in the past 20 years. We have seen low-fat regulation for most of that time, and we have just been witnesses to what has happened - or more to the point, been allowed to happen - in the financial sector as a result. Hopefully that lesson will sink in, and governments will examine their regulatory system plus the enforcement of it.

I concur with jurassicjockey, you cannot convince senior management who have to appease shareholders today in order to justify mad bonuses any more than you can convince a politician to draft a 10 year budget plan for the good of the economy when he is up for election in 2 year's time. The cocktail of these characters on one end, plus hordes of literally desperate wannabees with big bills and no concept of supply and demand on the other, is a very dangerous one.
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