The HBR editor’s blog has a small, crisp, and interesting write-up on the subject of the financial crisis, and who caused it?
The one paragraph that impressed me:
But whether that’s true or not, they’ve certainly figured out that the MBA offers an attractive return on investment. That payback can happen in different ways. The low-risk option is to enroll in a relatively inexpensive program on a part-time basis (especially when tuition reimbursement is available from one’s employer). A higher risk, higher return option is to enroll in a top-ranked school, quit your job, move your family and pay maximum tuition for a chance to earn an elite degree.
You see where I’m headed. The type of person who has the appetite for this second kind of risk-reward equation–plus the brains to excel in a rigorous academic setting–is the same type that Wall Street firms have been so eager to hire.
And yes, sure enough, payback happened. Greed overflowed. And in the famous american lingo, sh** hit the fan!
Read the full article here.