Tuesday, January 26, 2010

Davos Challenge: Trusting "Mean & Greedy" Leaders

World leaders gather in Davos, Switzerland to consider a report "The Future of the Global Financial System: Navigating the Challenges Ahead." Carlyle Group co-founder David Rubenstein chaired the Steering Committee that produced the report. Daily Exchange reported:

The report stressed that trust is a critically important issue not only for the general health of the financial system but also as a source of competitive advantage.

How are people to trust the very people who imploded their sector? That's who crafted the report. David Rubenstein said:

This report draws on the combined expertise of over 150 of the foremost experts in the global financial system to provide key guidance to those best positioned to ensure we emerge from the crisis with a healthy financial system.
Is that "healthy system" taxpayer sponsored? The Carlyle Group et al purchased BankUnited with a $4.9 billion FDIC subsidy.

The report mentioned three themes, lower profits, increased customer focus (tired of being ridden for high profits), and polarization. Not more polarization! The political sphere is polarized enough. America's hyper-competitive political consultants are now global, infecting elections in Ukraine.

GE CEO Jeff Immelt spoke to a generation of "mean & greedy" leaders, corporate and governmental. Corporations can now buy election ads. The "mean & greedy" fractal is long from over. Who can you trust? It might be down to family and friends.