The dramatic collapse of Wall Street made me thinking one point. Lehman brothers, Morgan Stanley, Bears and sterns etc all this big names commands the cream recruitment from the prestigious B-schools of the world. The policy makers and the cream of the management team of the companies had the brightest mind of the economics and business practice but still the companies failed and they failed miserably.
So what went wrong? What happened to the great analytical minds of the sharpest B-school whizz kids? Why did the supposedly high flying CEOs’ and their core team of number crunching pedigree of sharp minds which boasts of prestigious degrees from the elite universities bite the dust ? Is it coz that they where away from the ground realities of the market? Were they unaware of the real pulse of the market and lived in a theoretical management practices and board games? Or is it they were not concerned about the company but only in their personal pursuits of monetary benefits? Of course a monetary benefit will come only if you are leading a company in a successful manner and not sink it? So what really happened? Why it happened? Why none of the high flying economists were able to predict this windfall collapse?
I am not an economist or a supposedly sharp mind of B-school… but a simple man with this simple question… can anyone shed a light on my doubt?
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“So what went wrong ?”
One word.
Greed.