Monday, May 18, 2009
Be afraid
The Telegraph: Is your building society safe?
Savers and mortgage holders with the West Bromwich may be alarmed by reports that the Financial Services Authority is planning to bail out the building society. The reports come just days after ratings agency Moody's downgraded nine societies, which in turn led to local authorities withdrawing large sums of money.
Posted by devo @ 11:38 PM (639 views) Add Comment
3 Comments
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1. paul said...
I remember Uncle Tom predicted back in early 2007 that by the time this fiasco was finished two things will have happened:
1. A major high street lender will have gone under
2. Legislation will be (re)implemented to make sure this is not allowed to happen again.
Well, we've had number 1 many times over but we're still waiting for number 2. Perhaps our leaders are the ones asleep at the wheel?
2. devo said...
Legislation will be (re)implemented to make sure this is not allowed to happen again
Too late for that, paul/uncle tom.
This system is broken. Time for a new one.
3. happy mondays said...
paul said, Perhaps our leaders are the ones asleep at the wheel?
I don't think our leaders have a wheel ! In fact do we have any leaders ?
Proponents of the trait approach usually list leadership qualities, assuming certain traits or characteristics will tend to lead to effective leadership. Shelley Kirkpatrick and Edwin A. Locke (1991) exemplify the trait theory. They argue that "key leader traits include: drive (a broad term which includes achievement, motivation, ambition, energy, tenacity, and initiative), leadership motivation (the desire to lead but not to seek power as an end in itself), honesty, integrity, self-confidence (which is associated with emotional stability), cognitive ability, and knowledge of the business. According to their research, "there is less clear evidence for traits such as charisma, creativity and flexibility".
Again, Do we have any leaders?