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Who's Minding the Bank?

Posted March 09, 2008 8:37 AM

The U.S. economy has slowed to a crawl, or even fallen into recession, experts say, largely because establishments that should know better — from banks to homebuilders to securities firms — abandoned time-honored financial principles. Now, as Business Week reports, the sub-prime mess is being followed by a credit card crunch. What happened to quality control and risk management at supposedly sophisticated financial giants? What can other industries learn from this debacle?

The preceding article is a "sneak peek" from Quality Control, a newsletter from GlobalSpec. To stay up-to-date and informed on industry trends, products, and technologies, subscribe to Quality Control today.

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Fierce Allegiance
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Join Date: Feb 2008
Location: Connecticut shoreline
Posts: 67
Good Answers: 5
#1

Re: Who's Minding the Bank?

03/11/2008 8:56 AM

First sentence is wrong. We are not in a recession, and any so-called "expert" who says so is clearly no "expert". A recession is 2 succesive quarters of negative growth. We have yet to have 1 quarter of negative growth. It will be almost 4 months before anyone can legitimately claim we are in a recession.

Yes, things have slowed down, but we are in no recession. At least not yet.
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PWSlack
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United Kingdom - Member - Indeterminate Engineering Fields - Control Engineering - New Member

Join Date: Jan 2007
Location: In the bothy, 7 chains down the line from Dodman's Lane level crossing, in the nation formerly known as Great Britain. Kettle's on.
Posts: 32175
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#3
In reply to #1

Re: Who's Minding the Bank?

06/10/2008 5:55 AM

<...negative growth...>

What a wonderful expression.

cf: "negative profit", "stable 2 position", "follically challenged"....

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Shadetree
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Join Date: Feb 2008
Location: Milky Way galaxy, Sol solar system, Earth (not Giaha), USA, WA, N.E.
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Good Answers: 13
#2

Re: Who's Minding the Bank?

03/12/2008 7:08 PM

I too would like to know which "experts" were consulted prior to posting this rubbish. Since we are in an election cycle I can't help but smell a rat.

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