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(The Business Journals)   In her new book, former FDIC Chairman, Sheila Bair has a few observations on the nation's top bank CEOs. Let's hope their egos are stronger than their business acumen   (bizjournals.com) divider line 17
    More: Interesting, Sheila Bair, FDIC, business acumen, FDIC Chairman, CEO, Bank of America, Vikram Pandit, Wachovia  
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1832 clicks; posted to Business » on 21 Sep 2012 at 9:48 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-09-21 06:12:00 AM
Lewis, the head of the North Carolina-based Bank of America (BAC) -- had never really fit in with this crowd. He was viewed somewhat as a country bumpkin by the CEOs of the big New York banks, and not completely without justification.

Ouch.
 
2012-09-21 09:51:28 AM
So? After the financial meltdown of 2008, they passed a bunch of laws to keep idiots like this from letting it happen again.

Right?

...
 
2012-09-21 10:07:19 AM

born_yesterday: So? After the financial meltdown of 2008, they passed a bunch of laws to keep idiots like this from letting it happen again.

Right?

...


Not if the bank lobby has anything to say about it.
 
2012-09-21 10:26:39 AM
Sounds like a decent book. I might check it out. At least from this description It sounds like an honest behind the scenes account, rather than the sensationalistic stuff seen elsewhere.
 
2012-09-21 10:38:23 AM
Sounds a bit biatchy and petty. I would have appreciated more on the substantive issues, which is supposedly where her expertise lies.
 
2012-09-21 10:39:12 AM
Hmmm. The CEO class is prone to overvaluing assets, selfishness, Peter Principle-promotions, and other damaging behaviors? Almost like they're regular people without any special knowledge or insight as a result of their CEOship?

WHO COULD HAVE FARKING GUESSED?!

So, can we reopen the discussion about executive compensation again, or is that too class warfare-y of a poor liberal like me?

// paid ~$3k in taxes last year
// not counting sales (and other excise) taxes and other state/federal demands
 
2012-09-21 11:32:12 AM
My observation. None of these Kings have any cloths on.

The smart one hides their abilities.
 
kab
2012-09-21 12:40:34 PM

Dr Dreidel: So, can we reopen the discussion about executive compensation again


If you haven't figured it out yet, CEO's and executives are the kings and queens of the US culture. They're a protected class, born of divine bloodlines, that is never to be questioned.

So no, you cannot, unless you want a horde of corporate shills banging on the forum doors.
 
2012-09-21 01:06:48 PM

Dr Dreidel: Hmmm. The CEO class is prone to overvaluing assets, selfishness, Peter Principle-promotions, and other damaging behaviors? Almost like they're regular people without any special knowledge or insight as a result of their CEOship?

WHO COULD HAVE FARKING GUESSED?!

So, can we reopen the discussion about executive compensation again, or is that too class warfare-y of a poor liberal like me?

// paid ~$3k in taxes last year
// not counting sales (and other excise) taxes and other state/federal demands


That up there. If there is anything in the world my experiences in business have taught me, it's that those dudes in the corner office aren't any smarter than the rest of us. They're just well connected.

Count me in as another hippy that would like to see these clowns pushing a shopping cart down an alleyway.

// paid ~$68K in income taxes last year.
// not counting sales and other taxes.
 
2012-09-21 03:19:52 PM

Rent Party: Dr Dreidel: Hmmm. The CEO class is prone to overvaluing assets, selfishness, Peter Principle-promotions, and other damaging behaviors? Almost like they're regular people without any special knowledge or insight as a result of their CEOship?

WHO COULD HAVE FARKING GUESSED?!

So, can we reopen the discussion about executive compensation again, or is that too class warfare-y of a poor liberal like me?

// paid ~$3k in taxes last year
// not counting sales (and other excise) taxes and other state/federal demands

That up there. If there is anything in the world my experiences in business have taught me, it's that those dudes in the corner office aren't any smarter than the rest of us. They're just well connected.

Count me in as another hippy that would like to see these clowns pushing a shopping cart down an alleyway.

// paid ~$68K in income taxes last year.
// not counting sales and other taxes.


Your experience is weird.

Sometimes connections can help, no doubt, but by and large more intelligent and effective people get promoted. To suggest otherwise sounds like jealously.
 
2012-09-21 05:39:57 PM

Debeo Summa Credo:
Your experience is weird.



No, it's not.


Sometimes connections can help, no doubt, but by and large more intelligent and effective people get promoted. To suggest otherwise sounds like jealously.


It sounds like you've never actually hung out at the executive level.

Here's a challenge. Find every "more intelligent" CEO you think is actually "more intelligent" and then find out what BoD he sits on for other firms. Then find out what those companies CEOs make, and what BoD's *they* sit on.

What you will find is an incestuous little rats nest of compensation committees. It ain't what you know, it's who you know. Access to capital is almost purely a function of personal connections. That is how stupid ideas like Pets.com and Curt Schilling's little disaster got funded. If you would have walked into a venture firm with that business plan you'd have been escorted off the premises by security. But if you're Julie Wainright and you happen to be close buds with John Hummer, well then here you go, you're in charge now.
 
2012-09-21 07:02:49 PM

Rent Party: What you will find is an incestuous little rats nest of compensation committees. It ain't what you know, it's who you know. Access to capital is almost purely a function of personal connections. That is how stupid ideas like Pets.com and Curt Schilling's little disaster got funded. If you would have walked into a venture firm with that business plan you'd have been escorted off the premises by security. But if you're Julie Wainright and you happen to be close buds with John Hummer, well then here you go, you're in charge now.


How else do you think G.W. Bush got anywhere?
National Guard, sports, business, politics? He's failed at or abandoned everything he's ever tried, yet his connections give him both continued job opportunities and shield him from those failures.

Look at most of Wall Street. The only reason they're flush with cash is that they legalized theft.
 
2012-09-21 08:38:28 PM

Debeo Summa Credo: Rent Party: Dr Dreidel: Hmmm. The CEO class is prone to overvaluing assets, selfishness, Peter Principle-promotions, and other damaging behaviors? Almost like they're regular people without any special knowledge or insight as a result of their CEOship?

WHO COULD HAVE FARKING GUESSED?!

So, can we reopen the discussion about executive compensation again, or is that too class warfare-y of a poor liberal like me?

// paid ~$3k in taxes last year
// not counting sales (and other excise) taxes and other state/federal demands

That up there. If there is anything in the world my experiences in business have taught me, it's that those dudes in the corner office aren't any smarter than the rest of us. They're just well connected.

Count me in as another hippy that would like to see these clowns pushing a shopping cart down an alleyway.

// paid ~$68K in income taxes last year.
// not counting sales and other taxes.

Your experience is weird.

Sometimes connections can help, no doubt, but by and large more intelligent and effective people get promoted. To suggest otherwise sounds like jealously.


that is trolling of epic proportion.
 
2012-09-21 11:25:25 PM
fcbahistory.pbworks.com

Sorry, I thought the thread referred to her.
 
2012-09-22 08:18:10 AM

born_yesterday: So? After the financial meltdown of 2008, they passed a bunch of laws to keep idiots like this from letting it happen again.

Right?

...


Some incarnation of Countrywide has been ripping off consumers in the Southeast for decades. It is a company designed to prey on folks struggling to get into their first modular home. Countrywide has made a long-term practice of finding and exploiting any regulatory gaps in its' favor. The Southeast, with its' comparatively scant regulatory environment, provides the ideal setting for Countrywide to reincarnate itself and profit via unethical means over and over again. Some form of Countrywide will be here ripping people off when BoA has been purchased and subsumed by another bank.
 
2012-09-22 03:03:22 PM

KrispyKritter: Debeo Summa Credo: Rent Party: Dr Dreidel: Hmmm. The CEO class is prone to overvaluing assets, selfishness, Peter Principle-promotions, and other damaging behaviors? Almost like they're regular people without any special knowledge or insight as a result of their CEOship?

WHO COULD HAVE FARKING GUESSED?!

So, can we reopen the discussion about executive compensation again, or is that too class warfare-y of a poor liberal like me?

// paid ~$3k in taxes last year
// not counting sales (and other excise) taxes and other state/federal demands

That up there. If there is anything in the world my experiences in business have taught me, it's that those dudes in the corner office aren't any smarter than the rest of us. They're just well connected.

Count me in as another hippy that would like to see these clowns pushing a shopping cart down an alleyway.

// paid ~$68K in income taxes last year.
// not counting sales and other taxes.

Your experience is weird.

Sometimes connections can help, no doubt, but by and large more intelligent and effective people get promoted. To suggest otherwise sounds like jealously.

that is trolling of epic proportion.


No, suggesting something other than ability is the best indicator of advancement in life is an envy induced delusion.

Sorry, you didn't fail at having connections. You just failed.
 
2012-09-22 08:06:15 PM

Debeo Summa Credo: ability is the best indicator of advancement in life

 

*citation needed
 
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