Tuesday, March 10, 2015

HSBC - way too big to fail

A bit harsh but the parliamentary special committee requesting that the Rona Fairhead non executive director at the time of the HSBC tax evasion should be fired from her current job at the BBC Trust.

It was good to see these people being asked "what did you think the big bucks were for" and asking them to accept some responsibility.

But it also showed that the bank was just too big to be managed hierarchically - and no management structure could have stopped this.  Therefore it needs to be a smaller organisation.

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