The Great Recession of 2008 had a devastating effect on the world economy. Millions of jobs were lost, trillions in financial assets evaporated, and millions of people lost their homes. Great companies such as Lehman Brothers went bankrupt and many others needed to be bailed out by the government. One would think that an important lesson learned from the carnage is that greed is not good: Our firms need to be headed by trustworthy, upright leaders.
The reality is that the corporate world, led by greedy and self-absorbed CEOs, was heading down a treacherous path for more than 30 years. … Read more