http://thisismoney.co.uk/money/comment/article-2512052/RUTH-SUNDERLAND-Floats-coming-fashion.html
What happens in bank collapses is that probes are announced, which makes it look as though dramatic action is being taken. But then the various inquiries queue up behind one another, like aircraft in a holding pattern, with regulators claiming they are not able to start until someone else has finished.
And so it takes aeons before any directors, regulators or politicians are castigated, if ever.
maxwellisation - the process by which people criticised are given a chance to answer back
All sorts of legalistic reasons are put forward to justify why these inquiries take such an unconscionable length of time. But do they really have to take so long? After all, the British Parliamentary banking commission managed to produce its conclusion, that HBOS involved 'catastrophic failures of management, governance and regulatory oversight' rather more quickly.
Where there is a will to drive investigation and punishment, it does not need to take years, as US regulator Benjamin Lawsky demonstrated with Standard Chartered over its sanctions-busting.
Who benefits from these long-winded inquiries? Not small shareholders or customers.
9 life lessons from Tim Minchin
tags
philosophy,
principles
Timothy David Minchin was born in England to Australian parents, but raised in Perth. He was awarded an honorary doctorate by the University of Western Australia and asked to give some guidance to the students on things he had learnt travelling the world, being himself and his ideas on being a successful person.
His UWA graduation speech bestowed "nine life lessons, to echo… the nine lessons of the carols of the traditional Christmas service."
His UWA graduation speech bestowed "nine life lessons, to echo… the nine lessons of the carols of the traditional Christmas service."
BBC TVLicence & Parliament
tags
governance
Lucy Adams on the recent BBC pay deal
http://www.bbc.co.uk/blogs/blogaboutthebbc/posts/lucy-adams-on-the-recent-bbc-p?postId=112348499#comment_112348499
Comment 2. Andy Parsnip
Just to back up what Lucy and a few other members of the Payroll Sustainability Management Team have said.
The Director General completely understands your misery, his salary dropped from "£ Outrageous" to "£ Taking the p...." this year. As does the Director of Payroll Futures. His salary has been pegged back to "£ Holy f what does he do to earn that much".
http://www.bbc.co.uk/blogs/blogaboutthebbc/posts/lucy-adams-on-the-recent-bbc-p?postId=112348499#comment_112348499
Comment 2. Andy Parsnip
Just to back up what Lucy and a few other members of the Payroll Sustainability Management Team have said.
The Director General completely understands your misery, his salary dropped from "£ Outrageous" to "£ Taking the p...." this year. As does the Director of Payroll Futures. His salary has been pegged back to "£ Holy f what does he do to earn that much".
Marissa Mayer's "Laura Beckman story"
tags
knowledge,
leadership,
strategy
http://businessinsider.com/marissa-mayer-biography-2013-8?op=1
When people ask Marissa, why she joined Google after getting her masters in symbolic systems at Stanford, she likes to tell them her "Laura Beckman story". It's about the daughter of her middle school piano teacher.
Marissa begins: "Laura tried out for the volleyball team her junior year at high school. At the end of the tryouts, she was given a hard choice: bench on varsity, or start on JV.
Most people, when they're faced with this choice, would choose to play - and they'll pick JV. Laura did the opposite. She chose varsity, and she benched the whole season.
But then an amazing thing happened. Senior year she tried out and she made varsity as a starter, and all the JV starters from the previous year benched their whole senior year.
I remember asking her: "How did you know to choose varsity?"
And she said, "I just knew that if I got to practice with the better players every day, I would become a much better player, even if I didn't get to play in any of the games."
The moral of Mayer's story is that it's always better to surround yourself with the best people, so that they will challenge you, and you will grow.
When people ask Marissa, why she joined Google after getting her masters in symbolic systems at Stanford, she likes to tell them her "Laura Beckman story". It's about the daughter of her middle school piano teacher.
Marissa begins: "Laura tried out for the volleyball team her junior year at high school. At the end of the tryouts, she was given a hard choice: bench on varsity, or start on JV.
Most people, when they're faced with this choice, would choose to play - and they'll pick JV. Laura did the opposite. She chose varsity, and she benched the whole season.
But then an amazing thing happened. Senior year she tried out and she made varsity as a starter, and all the JV starters from the previous year benched their whole senior year.
I remember asking her: "How did you know to choose varsity?"
And she said, "I just knew that if I got to practice with the better players every day, I would become a much better player, even if I didn't get to play in any of the games."
The moral of Mayer's story is that it's always better to surround yourself with the best people, so that they will challenge you, and you will grow.
A Flawed Foundation, But Brilliant Strategy?
http://zerohedge.com/article/guest-post-eu-flawed-foundation-brilliant-strategy
The essence of Mercantile Colonialism is to create a need for debt, then finance that debt and eventually exchange that debt for the collateral assets that are the underlying wealth producing assets.
In the Austrian School of Economics, this exchange of printed paper for real assets, is called the Indirect Exchange. It is well understood and well documented but like usury is avoided in polite conversation. Eventually the colonies worked as slaves to pay the debt to their European masters.
Gold is the Money of Kings, Silver the Money of Merchants and Debt the Money of Slaves
The European banks are slowly but surely, through a tactic of Financial Arbitrage, moving more and more sovereign debt to the ECB and EU. Someone must pay for this debt and that will eventually be the entire European taxpayer base. That is the goal.
"The way to make a lot of money is to invest in a known & predetermined outcome."
Joseph P Kennedy, (father of President JFK and one of the richest self-made prohibition bootleggers in America).
It was obviously a flawed approach where Monetary Policy would be disconnected from Fiscal Policy. It was expediently swept under the carpet as something to be avoided and left for future political operatives to craft the public response.
Question: "Why would we implement a flawed system?"
It is exactly the same question as why did US banks make liar loans?
Answer 1: Someone else would carry the liability.
.... and the tax payer has.
Answer 2: Because there was a lot of money to be made!
.... and it has been made.
"The EU is built on a FLAWED FOUNDATION but a brilliant STRATEGY ……
…. Unfortunately the People own the foundation & banks the strategy!
Like Colonial Mercantilism the real money in Europe KNEW going in what the debt strategy was.
They also had another card up their sleeve. They knew there was a structural advantage that would predetermine the eventual outcome.
Do you really believe that major banks would put themselves in a position where they lent endlessly to the kids knowing they would be left holding the bag? They knew the outcome and who was going to be left holding the bag.
It was certainly not going to be those with an army of lawyers, lobbyists, campaign contributions and most importantly, a strategy.
It must never be forgotten that the banks create their money from your money. It is only time, therefore before as in a children's monopoly game, they own the whole board.
Also it must never be forgotten that this is why banks fight so hard against Tier 1 Capital requirement changes. This is the money they have previously extracted that is now actually at risk.
Be aware that the mercantile financiers are so opposed to risk that operating as the secured bond holders of the banks they make the profit from the banks - not the shareholders. The financiers get first distribution of profits and are always kept whole. The public typically attacks the bank owners, not those who insidiously control and profit from its operations - the senior secured bond holders. It is the senior secured bond holders who must take the Greek 'haircut' but as part of the strategy they have their political mouthpieces vehemently opposing it.
Capital is already fleeing Greece as fast as it can; what's the chance of attracting it for Greek assets?
Someone is going to get real fire sale prices.
It's easy as a bookie to make money on a sure thing when the horse race is fixed!
The essence of Mercantile Colonialism is to create a need for debt, then finance that debt and eventually exchange that debt for the collateral assets that are the underlying wealth producing assets.
In the Austrian School of Economics, this exchange of printed paper for real assets, is called the Indirect Exchange. It is well understood and well documented but like usury is avoided in polite conversation. Eventually the colonies worked as slaves to pay the debt to their European masters.
Gold is the Money of Kings, Silver the Money of Merchants and Debt the Money of Slaves
The European banks are slowly but surely, through a tactic of Financial Arbitrage, moving more and more sovereign debt to the ECB and EU. Someone must pay for this debt and that will eventually be the entire European taxpayer base. That is the goal.
"The way to make a lot of money is to invest in a known & predetermined outcome."
Joseph P Kennedy, (father of President JFK and one of the richest self-made prohibition bootleggers in America).
It was obviously a flawed approach where Monetary Policy would be disconnected from Fiscal Policy. It was expediently swept under the carpet as something to be avoided and left for future political operatives to craft the public response.
Question: "Why would we implement a flawed system?"
It is exactly the same question as why did US banks make liar loans?
Answer 1: Someone else would carry the liability.
.... and the tax payer has.
Answer 2: Because there was a lot of money to be made!
.... and it has been made.
"The EU is built on a FLAWED FOUNDATION but a brilliant STRATEGY ……
…. Unfortunately the People own the foundation & banks the strategy!
Like Colonial Mercantilism the real money in Europe KNEW going in what the debt strategy was.
They also had another card up their sleeve. They knew there was a structural advantage that would predetermine the eventual outcome.
Do you really believe that major banks would put themselves in a position where they lent endlessly to the kids knowing they would be left holding the bag? They knew the outcome and who was going to be left holding the bag.
It was certainly not going to be those with an army of lawyers, lobbyists, campaign contributions and most importantly, a strategy.
It must never be forgotten that the banks create their money from your money. It is only time, therefore before as in a children's monopoly game, they own the whole board.
Also it must never be forgotten that this is why banks fight so hard against Tier 1 Capital requirement changes. This is the money they have previously extracted that is now actually at risk.
Be aware that the mercantile financiers are so opposed to risk that operating as the secured bond holders of the banks they make the profit from the banks - not the shareholders. The financiers get first distribution of profits and are always kept whole. The public typically attacks the bank owners, not those who insidiously control and profit from its operations - the senior secured bond holders. It is the senior secured bond holders who must take the Greek 'haircut' but as part of the strategy they have their political mouthpieces vehemently opposing it.
Capital is already fleeing Greece as fast as it can; what's the chance of attracting it for Greek assets?
Someone is going to get real fire sale prices.
It's easy as a bookie to make money on a sure thing when the horse race is fixed!
Discover your Design Alter-Ego
tags
design
The Open University (OU) Design & Innovation
http://open.edu/openlearn/science-maths-technology/engineering-and-technology/design-and-innovation/design/design-nutshell
Design in a nutshell
Get the lowdown on 6 key design movements and share your design alter-ego
Want to learn about six of the most important movements in design history? Watch short videos on:
Gothic Revival
Arts and Crafts
Bauhaus
Modernism
American Industrial Design
Postmodernism
Are you a bit postmodern, or do you belong in the Bauhaus? Watch the videos then take the test to discover your design alter-ego before sharing it with your friends.
And so I share my alter-ego with you
Your design alter-ego is...
Ludwig Georg van der Pound
You live by the mantra ‘Function dictates form’, and believe your ample talents can design a better society. You are the celebration of mankind’s creativity! And modest too.
http://open.edu/openlearn/science-maths-technology/engineering-and-technology/design-and-innovation/design/design-nutshell
Design in a nutshell
Get the lowdown on 6 key design movements and share your design alter-ego
Want to learn about six of the most important movements in design history? Watch short videos on:
Gothic Revival
Arts and Crafts
Bauhaus
Modernism
American Industrial Design
Postmodernism
Are you a bit postmodern, or do you belong in the Bauhaus? Watch the videos then take the test to discover your design alter-ego before sharing it with your friends.
And so I share my alter-ego with you
Your design alter-ego is...
Ludwig Georg van der Pound
You live by the mantra ‘Function dictates form’, and believe your ample talents can design a better society. You are the celebration of mankind’s creativity! And modest too.
bad strategy?
http://mckinsey.com/insights/strategy/the_perils_of_bad_strategy
reading this article above, reminded me of a recent engagement reworking on corporate strategy and business planning.
i had a very interesting initial-discussion with the director in-charge of marketing and strategy.
q: what is the current strategy.
a: our strategy is very simple:
"get as much clients as we can. charge as much money as we can. cut as much costs as we can."
my humble opinion & response was that, we can't have such strategy.
q: why do we charge customers so much?
a: we are the oldest and the best. we have the most reputation. we have the widest reach. our employees are the best trained.
q: do we have a target customer segment?
a: we target everyone.
but we can't target everyone. a celebrity-footballer (potential client) might have very different expectations, than another man on the street.
i don't think this is bad strategy. in fact, there is no strategy. the firm has been bleeding increasingly, since the past few years. but, there is hope, and we can turn it around, within the next 2yrs.
i might chart something on this blog, if i can suitably obfuscate pertinent details…
reading this article above, reminded me of a recent engagement reworking on corporate strategy and business planning.
i had a very interesting initial-discussion with the director in-charge of marketing and strategy.
q: what is the current strategy.
a: our strategy is very simple:
"get as much clients as we can. charge as much money as we can. cut as much costs as we can."
my humble opinion & response was that, we can't have such strategy.
q: why do we charge customers so much?
a: we are the oldest and the best. we have the most reputation. we have the widest reach. our employees are the best trained.
q: do we have a target customer segment?
a: we target everyone.
but we can't target everyone. a celebrity-footballer (potential client) might have very different expectations, than another man on the street.
i don't think this is bad strategy. in fact, there is no strategy. the firm has been bleeding increasingly, since the past few years. but, there is hope, and we can turn it around, within the next 2yrs.
i might chart something on this blog, if i can suitably obfuscate pertinent details…
Cultural Lies
tags
culture,
integration,
leadership,
philosophy,
principles
"Our culture has accepted two huge lies. The first is that if you disagree with someone's lifestyle, you must fear or hate them. The second is that to love someone means you agree with everything they believe or do. Both are nonsense. You don't have to compromise convictions to be compassionate." Rick Warren
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