Directors Rise To the Challenge!

This advertisement has run in FT the last three days.  I laugh uncontrollably every time I see it (And then I cry)

Regulation. Risk. Executive Pay.

Activist Investors. Crisis.

Directors Rise To The Challenge

A Conference For Board Directors Only

At the Outstanding Directors Exchange experienced directors

come together to discuss their biggest challenges, share solutions,

and learn from one another.  Sessions are led by winners of the prestigious

Outstanding Directors award, sitting CEOs and experts from Columbia Business School.

 

At the top of the Outstanding Directors Exchange (They call themselves ODX) is this face;

 

Richard Parsons outstanding board director of Time Warner and Citigroup! 

People, the bull-sh*t is embedded so deep in our financial and economic community that there's no wonder why we are in the shape we are in.  It's like a circle of about 1,000 people run everything.  They move seamlessly from government to "private equity" to "investment banking" to corporate board of directors and back again to government.  How many times have you heard about guys who run boutique investment banks or private equity groups, and you find that either they, or their close relations held or hold powerful positions in government that grant them all kinds of access and special favors?  Investment bankers!  Bull-sh*t!  They're influence users and peddlers.  The more I've been away from the very insular environment of selling bonds and have gotten out in the world my eyes are open and I see it EVERY day.  This is why nothing changes. 

Comments

[eric]

Very true Leslie. Dick Parsons was tight with Nelson Rockefeller and it just rolled from there.

[Leslie H.]

I guess you would have to be pretty "outstanding" to screw up a company so badly, and not personally suffer any consequences. I'm sure incompetents world-wide, are lining up for lessons from that guy.

[eric]

Probably

[rubicon s]

and they will hunt you down....