Thursday, June 16, 2011

Nutshells ...

Mr. Urban Hellhole (in toto) makes the underlying point that sometimes gets lost in all this:

At least in certain circles there's been a lot of focus on the corruption of banksters, which is valid enough, but there hasn't been enough focus on the basic incompetence of the banksters. Obviously they have some degree of competence, as despite destroying their own businesses and almost the world, they managed to get someone to give them a do over, but the point is that they all ran their businesses into the ground.

So we left them in charge. [my ems]

If someone came to me looking for a job (I don't care if it was picking up after my dogs) with an MBA on their resume, I'd run them out the door.


Anonymous said...

Back in the early 1980s, I was dealing with a small bank in western Oregon that was run by a retired VP of some huge bank in New York. He had been in charge of the "loans" section. I literally had to teach him how to calculate interest rates. He had never used a pocket calculator. Ignorant as a post.

I studied organizational theory in the 1970s. At a certain point in every large organization, promotions are made on political ability and charm. The head of any organization may or may not be qualified.

It is not only government organizations that have "executive bind." The organization cannot function because the senior people don't have a clue as to what they are doing.

They are simply politicians who listen to people that they do not regard as a threat to their position.

Anonymous said...

When effing idiots are in charge of effing idiots, effing stupid things occur. Competency and effectiveness are illegal aliens in this great nation. Just a mindless example might be a suspicion that the education system is not doing a good job and concluding that the solution is to stop educating people. Follow along that example and you too can be a world leader or vote Republican. (Sometimes you can vote with the Democrats too.)

Jay in N.C.

BadTux said...

I once knew a college professor who taught business math to MBA students. He said they barely knew how to do basic arithmetic, nevermind all the amortization etc. he was trying to teach them. But even the dumbest most incompetent ones got a "Gentleman's C", because, said he, "our job is to keep them off the streets for awhile in hopes they'll grow up if we babysit them for long enough, and we can't fail them because their tuition pays my salary." Did I mention he was extremely cynical about his job?

So anyhow, "MBA" stands for "Master Bullshit Artist". That is all.

- Badtux the Snarky Penguin

Gordon said...

"MBA" stands for "Master Bullshit Artist"