January 25, 2009
The sudden fascination on the part of the former CEO of Merrill Lynch with expensive antiques paid for by beleaguered shareholders illustrates once again that sound judgment is the most underrated and unevenly dispensed attribute among modern leaders today. A year ago, at the beginning of 2008, investors in U.S. financial stocks had already begun [...]
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January 18, 2008
The fact that Merrill’s risk committee did not function shows that this company was governed by a board that failed utterly in its duty to investors. The magnitude of the losses was staggering on its own: nearly $10 billion for the final quarter of 2007. That was on top of the $2.3 billion loss for [...]
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