Tuesday, March 03, 2009

We made mistakes on the economy

Who is humble enough to admit a mistake? Find out here.
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3 comments:

Parka said...

In Europe, the bankers said they are sorry. In US, the bankers are totally defensive. Read all at Time Magazine website.

March 03, 2009 6:57 PM
Anonymous said...

I'd love to see some of our leaders own up to their mistakes. *evil grin*

March 03, 2009 8:07 PM
zhummmeng said...

Will our government ever admit mistakes?
But they may ask, "what mistakes?"
The answer is "you ask me I ask who".
There is no humility. The regulator, the salespeople, the perpetrator the FIs will never confess to the wrong doings.Yhey stick to their gun there will be no solution in sight.Maybe they are looking for scapegoats.
Unlike their counterpart,
Ed Balls, Mr Brown’s former
economic adviser who is now a Cabinet minister, also conceded that financial regulation should have been tougher. No, MAS still insists that self regulation is better.The FIs and the salespeople should be left to decide what is the best for them.You see, for them
and not the consumers.
The problem here is everyone is obsessed with "performance".
The insurance agents are obsessed with commission and mdrt, the RMs with commission and fast car and condo, the FIs with profit, the insurance companies with market share. The poor consumers are forgotten..
What happened then? the financial markets were allowed to run out of control for much of the past decade.It is free wheeling ,Miss-selling, misrepresentation, conflict of interest,unethical practices, cheating , churning , twisting, and any practices imaginable. You name what they have done what.
Dishonesty driven by greed is the order of the day.

March 03, 2009 8:22 PM

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