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And, yes, I DO take it personally: Perfect description
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Monday, March 20, 2006

Perfect description

Sorry...I am playing catch-up here. It's been an incredibly busy week.

From profmarcus' post about Ben Stein's latest...
But what has happened is that -- as in a corrupt, failed third-world state -- the trustees in too many cases are captives of the C.E.O. and his colleagues; they owe both their places on the board and their emoluments to the chief executive, and they exercise no meaningful restraint at all on managers. The directors are instead a sort of praetorian guard, protecting management from its real bosses, the stockholders, as management sucks the blood out of the company.

Doesn't this describe the Bush administration and its Republican Guard Congress to a tee? Substitute Americans for stockholders and Republican Congress for directors and that pretty much sums up the last five years.

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