Friday, December 5, 2008

This guy is at the root of this problem and here he is....

Sir Evelyn de Rothschild calls for action

All of us - countries, corporations and consumers - have neglected basic principles.

Sir Evelyn de Rothschild
Sir Evelyn: "action has to be taken and action must be taken very soon".

Ethics - we have lost sight of an honest day's work for an honest day's pay.

Careful management - we have indulged our wants without the taxes or the prices or the cash to pay for them.

Oversight - public relations and spin have replaced disclosure and transparency; casual yet complex accounting and accommodating rating agencies left us blissfully unaware of the problems, and we revelled in our ignorance.

Hubris has replaced community responsibility as a requirement for executive positions.

American automobile executives and British bankers have been unable to form their lips into an apology.

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