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Wednesday, February 18, 2004

Herd Mentality

Some of you may have heard this before, but it's just too good to miss documenting here:

"In 1998, CFO Magazine gave an Excellence award to Scott Sullivan, the chief financial executive of WorldCom. In 1999 it gave one to Andrew Fastow of Enron. And in 2000, it gave one to Mark Swartz of Tyco. All three have since been indicted."

This quote comes from an article by Paul Krugman. All Krugman's articles are regularly updated in this website. I realize that Krugman has taken a beating in this blog. Even I have found that with his increase in popularity, he has become somewhat more populist -- seemingly more interested in bashing Bush than addressing policy. Nonetheless, the guy still makes some intelligent observations...

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