Editorial: When leaders panic

It’s not an impressive sight. Senior executives of leading financial firms have been castigating the media and investors for over-reacting to the US sub-prime mortgage crisis, insisting that their own firms remain sound and yet simultaneously pleading with the central banks to come and bail them out. It’s either a crisis or it’s not, guys. So which way do you want it?

More on sub-primeThe unfortunate truth is that the loudest wails of panic have been those emanating from within the executive suites themselves – that is, from those who should know most about what’s going on inside the new financial order. ...

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Editorial: When leaders panic

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