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Featured Personal Development Article - Leading Yourself Out of Recession - by Willie Horton |
I simply don't know how many clients have said to me, over the last few months, that they crave leadership. The current global economic has found national and international leaders wanting. Governments have often scrambled, like headless chickens, to implement sticky-plaster solutions to a mess which was partly of their own making. At the same time, many bankers (and I know quite a few) have been in denial, blaming all kinds of external forces for the systemic collapse of the global financial system - as if we had, somehow, been attacked by aliens that had nothing to do with the rampant greed that festered in the financial markets for many years - I say "many years" because some fifteen years ago, when I was a senior banker, I recollect being implored by Ireland's Central Bank to resist the temptation to throw away the old salary-based rules on which traditional mortgage lending was based. The Central Bank warned that banks would create a property bubble that, like all bubbles, would sooner or later burst. Whether it was Ireland's runaway property market or sub-prime lending in the States, the story is the same and, of course, the rest is history. |
© Willie Horton 2009 |