Tag Archive for ‘Credit Suisse’
Olympic athletes “remind us that no one is too big to fail and rather than fear it, they train themselves to acknowledge mistakes, find out how to correct them, and try again,” writes columnist Gael O’Brien. “It is a lesson of resilience that makes everyone a winner. And it works in board rooms as well.”
What accounts for behavior? There are people with a high IQ – an intelligence quotient derived from standardized tests – and those strong in what psychologists call emotional intelligence. But a third factor is often overlooked, writes columnist Gael O’Brien. Spiritual intelligence may be “harder to measure, easier to misunderstand and often dismissed as something more suitable for a yoga studio than a board room,” she says, but we ignore it at our peril.
In January, Rep. Jeb Hensarling, R-Texas, ascended to the powerful chairmanship of the House Financial Services Committee. Six weeks later, campaign finance filings and interviews show, Hensarling was joined by representatives of the banking industry for a ski vacation fundraiser at a posh Park City, Utah, resort.
Many major banks invest in companies that engage in the environmentally destructive practice of mountaintop removal (MTR) coal mining, whereby the tops of mountains are removed by explosives to expose thin seams of recoverable coal. Despite some banks’ stated intent to limit such financing, a Sierra Club/Rainforest Action Network “report card” indicates that few are yet walking the talk.
Over the last two years of the housing bubble, Wall Street bankers perpetrated one of the greatest episodes of self-dealing in financial history. Faced with increasing difficulty in selling the mortgage-backed securities that had been among their most lucrative products, the banks hit on a solution that preserved their quarterly earnings and huge bonuses: They created fake demand.