longoil

The Escalator of Life Is Going Down (Part 2)

>>>In the bully pulpit was our first Harvard MBA President George Bush, proclaiming the benefits of free market capitalism while not being able to pronounce or spell derivative, let alone understand them. <<<

>>>Their models, created by overly confident MBAs, assured them that nothing could go wrong. <<<

Let's see we have George W Bush and Henry Paulson with Harvard MBA's. But, Warren Buffet was refused admission to Harvard business school in 1950.

There is the problem. The admission committee at HBS is essentially determining the future leaders of the US based on an applicant's connections and not their capability or potential.

Unintended Consequences of Four Government Policies

Point #1. I think Obama is on the right track with his capping of salaries.
We supposed had the brightest and the best in the financial industry and look at the mess they got us into.

Point #2: Agreed, we only need to look the Smoot-Hawley tariff act of 1930 to see what happens when the rest of the world retaliates to US protectionism.

Point #3: Agreed. Another unintended consequence of the Sarbane-Oxley bill was the cost of compliance is prohibitive for small to medium companies and has created more hardships.