The furore snowballs as the insurance giant AIG pays out $165 million in bonuses to senior executives. Even President Obama has stepped in. So what's all the fuss about? AIG is only continuing in the way that it and many other financial organizations have been used to. They haven't had to take any responsibility for failure and the bailout money simply stakes them to have another go.
If AIG are not to blame for acting as they have, where does it lie? The fault lies with poor regulation and a lack of legislation that is connected with the overall purpose of management which is "To Secure the Future". The idea of a 'going concern' has been lost in pursuit of self enrichment and the pressure of short-termism.
An economic failure of this magnitude is a direct result of no strategic alignment of business with society. Who is to blame. We all are. We allowed it to happen and were happy as gambler on a hot streak at the casino while we were winning. Trouble is we refused to believe that we could lose.
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