Thursday, June 11, 2009
Barney Frank Pulls Plug On CNBC: "This Interview Is Over!"
The traditional Board in the American businesses has colluded with the Wall St. and the preferred stock/bond holders, while never giving two $hits about the common stock holder, the public/consumer or the workers. These a-holes tend to have multiple board memberships and mooch from even the most unhealthy enterprises - without any tangible assistance or advice worth its weight in salt.
Barney is right, this model has failed us miserably. The Board is suppose to provide the needed checks and balances, which, given their incestuous relationship with the CEO, the market and other companies was never rational, fair or worth a hill of beans for the company. We need a paradigm shift in the Board room and I concur with Barney's approach. This lousy model hasn't worked for the past century, so let's move on to something else - maybe not the best, but certainly a better option. If not now, when? I say, good riddance!
Read the Article at HuffingtonPost