How the cult of shareholder value is cannibalizing corporate North America

Financial Post
As I read through this article, I couldn't help thinking, as I read some of the defenses of the proponents of this sort of business practice, of that W.C. Fields quote, "If you can't dazzle them with brilliance, baffle them with bullshit."
And it's a whole lot of bullshit. These companies have been overheating their own stocks, and calling it profit. They've been raiding their own savings to placate demanding and aggressive shareholders. And in the end, it's all make-believe. They're rearranging the deck chairs on the Titanic.
It's an ages old scam, Three-card Monte, but it's played using banks instead of cards.
Feel safe and secure with our financial leadership?

Comments

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