I guess so many of us are looking and wondering and waiting to see what all this scandal in Wall Street means for us. Can we, the ordinary folk even contemplate the measures by which these people must analyse the risk involved in essentially betting in billions of dollars, and all the while using someone else's cash.
Few of us will escape.
For those with superannuation, it is a sure bet our provider has "invested" on one of the losers. Even if they didn't, the fallout is sure to affect the companies.
History never repeats. Hmm. Perhaps we took comfort in that cliche when the savings and loans debacle happened. And here it is again, biting us, the hands that feed the green eyed monster.
These companies, are inanimate. These companies in themselves exist for purpose, and many of these company board rooms have framed things on the wall stating their vision, policy, and ethical standards. But these inanimate walls and board tables are not the ones that make the pain. It is the people who manage these companies. People, not companies.
If you are in the waiting room of anywhere soon, pick up an old dated business magazine, perhaps only as recent as 18 months old, and read about how some of these players were being courted by the business fraternity. How these individuals were flouting their skills and market intelligence.
Well guess who is smug now! They are. Because still it has cost them little, we are the bunnies. Hmm.