If you have "no place to go," come here!

Shorter Robert Rubin: "It was already broken when I got here."

Another one of your leaderz seeks to win back your trust.

How's that working out?

UPDATE Yves has a massive takedown at Naked Capitalism. It concludes:

There is much more in this article, but it illustrates a pathology operative in our society. Why have we gravitated to leaders and advisors who built Potemkin villages and tell us that is progress, and then deny that they have any responsibility? This pattern has become widespread in Teflon CEOs and public officials. And the converse delivers better results. Jim Collins, in his book Good to Great, found that the CEOs of the very best performing companies were modest, shared credit for what went right and took blame for failures, the opposite of the Rubin/prevailing US pattern. And they also paid themselves modestly by modern standards.

Well worth a read, especially for the dissection of the psychological mechanisms involved.

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hobson's picture
Submitted by hobson on

Mark Shields reminds us on the News Hour that one thing Lee Iacocca did when he asked Washington for the Chrysler bailout was to take one dollar a year as compensation. I would feel a lot better about CEOs if they made that gesture. Or I would feel less like having them lined up in front of a firing squad.