Skip to comments.Harvardís masters of the apocalypse
Posted on 03/03/2009 11:20:47 AM PST by BGHater
If his fellow Harvard MBAs are all so clever, how come so many are now in disgrace?
If Robespierre were to ascend from hell and seek out todays guillotine fodder, he might start with a list of those with three incriminating initials beside their names: MBA. The Masters of Business Administration, that swollen class of jargon-spewing, value-destroying financiers and consultants have done more than any other group of people to create the economic misery we find ourselves in.
From Royal Bank of Scotland to Merrill Lynch, from HBOS to Leh-man Brothers, the Masters of Disaster have their fingerprints on every recent financial fiasco.
I write as the holder of an MBA from Harvard Business School once regarded as a golden ticket to riches, but these days more like scarlet letters of shame. We MBAs are haunted by the thought that the tag really stands for Mediocre But Arrogant, Mighty Big Attitude, Me Before Anyone and Management By Accident. For todays purposes, perhaps it should be Masters of the Business Apocalypse.
Harvard Business School alumni include Stan ONeal and John Thain, the last two heads of Merrill Lynch, plus Andy Hornby, former chief executive of HBOS, who graduated top of his class. And then of course, theres George W Bush, Hank Paul-son, the former US Treasury secretary, and Christopher Cox, the former chairman of the Securities and Exchange Commission (SEC), a remarkable trinity who more than fulfilled the mission of their alma mater: To educate leaders who make a difference in the world.
It just wasnt the difference the school had hoped for.
Business schools have shown a remarkable ability to miss the economic catastrophes unfolding before their eyes.
(Excerpt) Read more at timesonline.co.uk ...
But, but, these people are the “talent” who we must stop from leaving or else there will be a “brain drain” from Wall Street.
Make that read rich disgraced Harvard MBA’s