M Javed Iqbal
New member
Perhaps I am too old fashioned to believe in the dictum " An honest man is God's best creation ! ".
People agree that financial meltdown occurred due to greed of chief executives of Banks. But what about the tripartite system of check and balance. A bank like any other enterprise has at least 3 stake holders. Entrepreneurs, common shareholders and the Government that is responsible for overseeing the working and is a stakeholder as tax recipient.
Since all the three stakeholders and their auditors and analysts closed their eyes to the over ambitious lending of the banks, it is not wrong to assume that the system totally failed as the
accountants, auditors, financial analysts and the tax collectors, all closed their eyes as a consideration of share in the loot.
Could this have happened 60,70 years ago, when the morals of the nation had not declined so much?
People agree that financial meltdown occurred due to greed of chief executives of Banks. But what about the tripartite system of check and balance. A bank like any other enterprise has at least 3 stake holders. Entrepreneurs, common shareholders and the Government that is responsible for overseeing the working and is a stakeholder as tax recipient.
Since all the three stakeholders and their auditors and analysts closed their eyes to the over ambitious lending of the banks, it is not wrong to assume that the system totally failed as the
accountants, auditors, financial analysts and the tax collectors, all closed their eyes as a consideration of share in the loot.
Could this have happened 60,70 years ago, when the morals of the nation had not declined so much?