It must be said as a proof to the political acumen of FDR after the Great Depression, the United States had 40 years of economic growth,without a single financial crisis. The financial industry was tightly regulated. Most regular banks were local businesses, and they were prohibited from speculating with depositors’ savings. Investment banks, which handled [...]
Archive for the ‘business management’ Category
Banking With Fools
Posted in business management, economy, high finance, tagged alan j. greenspan, deregulation, Donald Regan, Glass-Steagall Act, Harvard School, influence peddlers, investment banking, President Reagan, risk taking on February 20, 2012 | Leave a Comment »
Enron Scandal
Posted in business management, economy, tagged andrew fastow, arthur andersen, auditing failure, deregulation, Enron, jeffrey skilling, kenneth lay, natural gases, special purpose entities on May 5, 2010 | Leave a Comment »
Smartest Crooks Know Law is on Their Side Enron scandal did not happen by itself. It was made to happen by some crooks with lots of help from other agencies. For example Arthur Andersen one of the largest audit and accountancy partnership went out of business by playing along. Where did Enron get such a [...]
A Parable
Posted in business management, tagged business management, delegating powers, executive ability, vision on April 4, 2008 | Leave a Comment »
Parable of An Unprofitable Steward© The king had to go on a long journey. Before he departed he called his council of servants, who were permitted to speak frankly at all times to hear his charge. He entrusted the care of ten cities to one servant whose abilities he counted most. Similarly he left seven [...]