Credit crisis shows that banks need wise men not wide boys
Telegraph.co.uk
05 Maggio 2008
Don't get me wrong. I haven't got it in for all senior executives and corporate board members. Some of my best friends are chief executives. Really. But I have come to wonder whether their colleagues are all quite what they are cracked up to be.
We all get things wrong. Even the most brilliant general or politician fails in some respect or other. Never mind economists. For us, getting it wrong is a way of life.
But for someone trying to analyse how good or bad a great leader was the key question to ask is why they failed. Was it bad luck, or bad judgment, or bad information - or what? Similarly when they succeeded, was this rooted in good decision-making or in good luck? The same is true for corporate leaders. But who makes such careful and critical assessments of them?
In practice, my concerns are most acute regarding financial businesses, and …
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