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Wednesday, October 13, 2010

The Blame Game

Banking failed. Banks were meant to save us, help us or throw a raft to us when we are drowning. Banks were supposed to manage risks or the risks in the marketplace. Instead they were undone by them. Can similar smoke come up your chimney?

Though you are besides yourself with rage or even if you are a rat in the public outrage against the bank, the truth is their failure has smashed up everybody else massively. The scale of wealth destruction by banks both to it's owners and market capitalisation capabilities has the latter on a bed of nails.

Employees have not been spared.Though those at the helms of banks could be driving those behemoths,the mass of the industry's staff sit in branches or centres or at some desk.The pain has been savage. Half a million jobs have been lost in the immediate wake of the financial meltdown and the crumbling and tumbling is still in it's throes across countries and assets. Evaporated trust, dried up credit has made many reel under or feel the ship's sinking.

But the threat hasn't gone away despite all hands on the oars. Governments themselves are deeply embedded in the banking systems.

What would your asset book look like in the future? Now is the time to prepare a raft. Let go of the corporate hand-holding you have been told to trust, parental coddling or a lifetime of reliance on being guided. Being right doesn't mean you are gonna get somewhere. Embark on a new course. Change your business model. If you are an entrepreneur, there's no time to be lost. Take action now because there'll be no one to bail you out if and when you fail.

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