Big Banks Become Too Dumb to Fail as Corporate Management Trumps Rights of Ownership Now America Enters the Era when Big Corporations Depend on Positive Self Esteem Lex Loeb, Yahoo Contributor Network . There is a direct correlation between the failure of major American corporations and the style of management in control of these corporations. Back in the days that the American news media successfully made "Corporate Raiders" out as greedy corrupt villains, management re-entrenched itself with poison pill legislation, golden parachutes and other measures designed to thwart corporate take overs by individuals , groups of investors and corporations who had the actual money to buy up a sufficient number of shares to take a controlling interest. The entrenched managements became even more entrenched after the 1980s and 1990s. In monster size giant cap corporations the size of the largest banks in the country like Citiigroup and Bank of America it is nearly impossible by virtue of the colossal size of these companies for anyone to take a controlling interest after the original founder's heirs stakes are sufficiently diluted. Corporate management knows that it is safely in control and can weather the complete destruction of these companies to remain in control of management. 2008 became the year when Secretary of the Treasury Paulson and Federal Reserve Chief Ben Bernake could not figure out when to determine when a giant bank was too big to fail . Because they could not make up their minds as the crisis drove them into shear panic they decided on a new way to determine which banks would be best to keep alive with massive infusions of government aid. They decided on selecting banks that were too dumb to fail . They sought out banks with the most inept management and looked to destroy banks that were better run because of the need to boost banker self esteem where and when it was needed most. The doctrine of Too Dumb to Fail comes from the US Federal Government, particularly the US congress, which looks to create failing institutions as many as fast as possible that can be the constant destination of emergency funding. It would seem like an unfortunate scam but these are our elected officials--the ones who really care. Larger organizations of any kind often out grow their ability to be managed by persons who actually have enough direct ownership . These organizations suffer having thousands of small shareholders who don't take much of an active interest in running the corporation who leave too much of the control in the hands of management. Funny thing is how management reacts when government acts to limit executive compensation. Management complies. Why? Because the corporate lawyers behind the scenes know who pays them. Corporate lawyers are responsible for the entrenchment of management over the interest of the investors who happen to own the most shares in these corporations. Because management pays the lawyers the lawyers act to keep management entrenched. When the government becomes the biggest shareholders we watch these same lawyers change their loyalty to the big powerful new shareholder. Capitalism really does require that ordinary people with the sufficient cash to buy up a companies shares should be able to vote to cut the benefits of management and to replace them. It is a shame that the corporate lawyers need a push from big government to do what capitalists should have been able to do otherwise --before the goofy entrenched management could make so many corporations too dumb to fail. The perks of ownership belong to shareholders and these owners should set the contracts for management and be able to have them tossed out when necessary. .
Best Kept Secret Park in Lake Oswego Great for Bike Riders, Walking and Running with Scenic River Views Lex Loeb Contributor Network . Lake Oswego does not like to advertise some of its best attractions for fear of attracting non-locals. The area has many interesting treasures almost no one from the Portland area bothers to explore. Lake Oswego has long had the cache' of an upper middle class white Anglo Saxon enclave that does not want the company of everyone from the Portland Metro Area coming in. One can't blame the present day city for trying to protect itself against crowds of non local strangers using their public facilities. Anyone who has been to lake Oswego actual lake knows it is a privately owned body of water that does not welcome the public access in anyway. That is not true of the Oswego Furnace Tower in George Rogers Park or Old River Drive that connects to the park's main pathway up along the Willamette river front. Along most of Old River drive the fro