" (...) Citi, JPMorgan Chase, Bank of America, Goldman Sachs, Merrill Lynch, Morgan Stanley, Lehman Brothers and the pre-rescue Bear Stearns. According to their biographies on the companies’ websites, more than two-thirds of the occupants of those board seats had no significant recent experience in the banking business. Fewer than half had any financial services industry experience at all".
Wednesday 15 October 2008
Gone by the board? Why bank directors did not spot credit risks
Francesco Guerrera e Peter Thal Larsen analizzano sul Financial Times le cause della mancata percezione della crisi da parte dei board di alcune tra le principali istituzioni finanziarie statunitensi. La principale ragione sembra risiedere nell'impreparazione degli amministratori rispetto alle problematiche dei mercati finanziari.
" (...) Citi, JPMorgan Chase, Bank of America, Goldman Sachs, Merrill Lynch, Morgan Stanley, Lehman Brothers and the pre-rescue Bear Stearns. According to their biographies on the companies’ websites, more than two-thirds of the occupants of those board seats had no significant recent experience in the banking business. Fewer than half had any financial services industry experience at all".
" (...) Citi, JPMorgan Chase, Bank of America, Goldman Sachs, Merrill Lynch, Morgan Stanley, Lehman Brothers and the pre-rescue Bear Stearns. According to their biographies on the companies’ websites, more than two-thirds of the occupants of those board seats had no significant recent experience in the banking business. Fewer than half had any financial services industry experience at all".
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