Posted on 09/27/2008 11:51:32 AM PDT by KingJaja
Peter Drucker didn't have a whole lot of nice things to say about those on Wall Street, at one point likening them to "Balkan peasants stealing each other's sheep."
Given the magnitude of the latest crisis to grip Fannie Mae, Freddie Mac, American International Group, Lehman Brothers, and their friends, one can only imagine what kind of acid analogy he might have used today.
Or perhaps he would have simply said, "I told you so." After all, so much of the trouble that has befallen these giants of the investment banking, mortgage, and insurance sectors—and that threatens to "undermine the financial security of all," as President George W. Bush put it—comes from a foolish disregard for the kinds of fundamental lessons that Drucker taught about risk, reach, and responsibility.
(Excerpt) Read more at businessweek.com ...
Drucker was always right....may he R.I.P.
Bah. They’re not even stealing each other’s sheep. They’re trading sheep borrowed from real peasants, and collecting commissions on every trade, before returning the shorn sheep to its owner.
I loved Peter Drucker. The best of the best.
Hell, that’s not all their doin’ to my sheep!!
The simple solution as I am sure Mr. Drucker would agree is get out of debt and don’t live beyond your means.
Your government will decide that for you.
(by the way, expect local and state taxes to increase as the slow down starts)
Just a little anecdote about the late, great Peter Drucker. I met him a time or two as he was a close friend of my boss at a Fortune 500 corporation back in late 90’s. He did a little consulting work for our organization as well, and sent us his invoices.
Never mind current news of John McCain’s failure to use the PC and send e-mail (scandalous /s) — Mr. Drucker would type up his own little invoices on an ancient manual typewriter and mail them in!!! I got such a kick out of that.
And such a nice gentleman, too — difficult to find his type around anymore.
Never say “I told you so”; I read it in an ettiquete book once, or something. The gods don’t like it. So whoever Peter Drucker is, I bet ole’ Pete wouldn’t do that /s.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.