But the man the firm promoted to take her place may be worse:

[www.baltimoresun.com]

"In Drew's place, the bank on Monday named Matt Zames, a trader by background who is well versed in risky financial bets. He was at one time employed at Long-Term Capital Management, whose 1998 collapse nearly caused a global crisis."

Great! Just great.

When are shareholders going to rise up and call for an end to this nonsense? These executives don't give a rat's arse about anyone but themselves and it must be obvious by now that letting them do whatever they please ain't working for anybody but themselves.

---

"Stop thinking about art works as objects, and start thinking about them as triggers for experiences." ~ Brian Eno

If the shareholders ever do rise up, they will be locked out of the meetings and probably arrested for trespassing.

Quote
$tevie
When are shareholders going to rise up and call for an end to this nonsense? These executives don't give a rat's arse about anyone but themselves and it must be obvious by now that letting them do whatever they please ain't working for anybody but themselves.

Shareholders have only one focus, profits and that's as it should be.
Banks today actually have little understanding about how they actually make money and the larger they (the banks) become the more obscure accounting will become.

Change will have to be imposed from without, it will never come from within.