> Dino wrote: > Yes, the buck stops at the end, which is the president but from what I'm > hearing from Gruss, there is no stop, slowdown or anything before the > president.
I'm saying that if, as a leader, you hold yourself accountable for everything that happens on your watch you'll put processes in place to ensure that bad sheet doesn't happen. It's so odd to have to explain this. Good leaders make you worry about little crap. Bad leaders make excuses when the walls tumble down. Think ENRON. What's the CEO say? Not my fault, the CFO did it. Think GE. What's the CEO say? I failed and I'll fix it by next year or I'll resign. It's called ownership and good leaders have it. Bad leaders don't. If you don't think you're responsible for everything you publish as a publisher - or for the actions of your employees as a leader - well, it's your call. As for Bush I think stewardship of the economy can CERTAINLY be blamed on him. If not him then who? Nobody? Then it's not governance. Hell you could trace the mortgage thing back to the Johnson administration when MBSs were first thought up. But it wasn't until the growth of the unregulated "shadow" banking system and "innovations" like "swaps", that it became a problem. Which is why the whole fannie argument is hooey and misinformation. Anyhoo, the point is, what do you think the 2 big things a President should ask after the smaller stuff? For me it's this: (1.) What are the domestic and foreign risks? Give me a ranked list, impact assessment, and a mitigation plan. (2.) What are the economic risks? Give me a ranked list, impact assessment, and a mitigation plan. Derivitives should've been tops on the list of #2. So for this problem, 1 of 3 leadership failures occurred: 1.) The president never asked for economic risks. His fault. 2.) The president appointed the wrong people and neither he nor they knew about the risks. His fault. 2.) The risks were presented, but the president failed to act in a way to prevent the crisis. His fault. See how easy things are when you focus on owership? ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;207172674;29440083;f Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:273413 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5
