World Events

Found a very interesting observation by Sudeshna Sen in the ET today. This actually sums up the last weekend in an excellent manner. Lives lost at one end of the world; livelihoods lost at another.As she aptly puts it, the bad news has kept lining up and observations of the experts around the world suggest that there is'nt a silver lining in sight. Sterns became history last year. The U.S govt was quick in lending it a financial bailout (liquid cash to enable Stern to pep up its assets to match its liabilities). This gesture was somehow absent this time around and Lehman had to face the ignominy of filing for bankruptcy protection.

One thing I fail to comprehend is : How did the creme de la creme of the best business schools in the world fail to anticipate a capsizing of their boats? The entire success or failure of any firm cannot be attributed entirely to it's CEO, I agree. However i would like to assume a behavior of insolence here and ask Mr. Richard Fuld : "When economists and industry analysts all over the world were of the opinion that you should have sold out when your share price reached less than $25 per share, what is it that kept you from taking that route?"