The Blame Game: Fingerpointing and Apologies

Erik Banks

Chapter 8 in See No Evil, 2011, pp 147-161 from Palgrave Macmillan

Abstract: Abstract It is interesting in the aftermath of the crisis to correlate red ink and failed performance with apologies and admissions of culpability from those in a position of power, influence, and responsibility. In other words, it’s interesting to see who does and doesn’t feel accountable for the annihilation of so much wealth. In the past chapters I’ve mentioned all the different groups that contributed to the screwup – the question is, how many have actually owned up to it? Based on my admittedly unscientific review, there seems to be an entire spectrum that ranges from “genuine mea culpa” to “mistakes were made” to “not my fault.” But before I get into the specifics, let me set the stage by first looking at how of some of the global political leaders reacted to the crisis.

Keywords: Financial Crisis; Federal Reserve; Hedge Fund; Credit Default Swap; Short Selling (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-29917-7_9

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DOI: 10.1057/9780230299177_9

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