baboon2004
Darned cockwombles.
sorry yeah, forgot to say that! 23-F, yep. Will have to watch the docu, thanks for the heads up. The government also sent tanks into Valencia at one point in the recent past, didn't they...
sorry yeah, forgot to say that! 23-F, yep. Will have to watch the docu, thanks for the heads up. The government also sent tanks into Valencia at one point in the recent past, didn't they...
One thing I cant' get my head around - a comment I read that the north of Spain is far more to the right than the south, in terms of electoral results (haven't checked this out, just going on what I read). In one sense this seems counterintuitive, as Catalunya and the Basque country are both in the north...but makes sense in that Andalucia etc forms the poorest part of the country.
The Fed didn’t tell anyone which banks were in trouble so deep they required a combined $1.2 trillion on Dec. 5, 2008, their single neediest day. Bankers didn’t mention that they took tens of billions of dollars in emergency loans at the same time they were assuring investors their firms were healthy. And no one calculated until now that banks reaped an estimated $13 billion of income by taking advantage of the Fed’s below-market rates, Bloomberg Markets magazine reports in its January issue.
Lawmakers knew none of this.
They had no clue that one bank, New York-based Morgan Stanley (MS), took $107 billion in Fed loans in September 2008, enough to pay off one-tenth of the country’s delinquent mortgages. The firm’s peak borrowing occurred the same day Congress rejected the proposed TARP bill, triggering the biggest point drop ever in the Dow Jones Industrial Average. (INDU) The bill later passed, and Morgan Stanley got $10 billion of TARP funds, though Paulson said only “healthy institutions” were eligible.
The Global Financial Crisis has raised many ethical
issues concerning who pays for the damage inflicted
and who is responsible for causing the crisis. Commentators
on business ethics have noted that corporate
financial scandals have assumed epidemic
proportions and that once great companies of
longstanding history and with previously unblemished
and even dignified reputations have been
brought down by the misdeeds of a few of their
leaders. These commentators raise the fascinating
question of how these resourceful and historic
organizations end up with impostors as leaders in the
first place (Singh, 2008). One writer on leadership
even goes as far as to say that modern society is
suffering from a epidemic of poor leadership in both
the private and the public sectors of the economy
(Allio, 2007).
The Corporate Psychopaths Theory of the Global
Financial Crisis is that changes in the way people are
employed have facilitated the rise of Corporate
Psychopaths to senior positions and their personal
greed in those positions has created the crisis. Prior
to the last third of the twentieth century large corporations
were relatively stable, slow to change and
the idea of a job for life was evident, with employees
gradually rising through the corporate ranks until a
position was reached beyond which they were not
qualified by education, intellect or ability to go.
In such a stable, slowly changing environment
employees would get to know each other very well
and Corporate Psychopaths would be noticeable and
identifiable as undesirable managers because of their
selfish egotistical personalities and other ethical
defects.
Parkinson's Law says that people were promoted to one position above their competency - people do a job well and get promoted until they get to a job they can't do well and there they remain. Not sure if it's true but it seems plausible.Prior to the last third of the twentieth century large corporations
were relatively stable, slow to change and
the idea of a job for life was evident, with employees
gradually rising through the corporate ranks until a
position was reached beyond which they were not
qualified by education, intellect or ability to go.