February 5, 2023
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Goldman mess spotlights crisis in executive suite


Look around at the economic wreckage of the past couple of years and one thing is obvious — we have witnessed the most colossal failure of management in the history of the modern corporation.

For all the talk about government intervention, TARP and the need to rewrite financial regulation to prevent another meltdown, the actual blame for this particular calamity lies at the hands of that select group of ultra-wealthy people in charge of the private sector of the economy.

But those steering the ship at Bear Stearns, Lehman Brothers, Chrysler, GM, Citigroup, AIG and GE — all significant participants in the crisis — have not paid any severe consequences for their failures.

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