Lehman, Andrew Ross Sorkin, Ben Bernanke discussed on Midday on WNYC

Automatic TRANSCRIPT

Kind of brain damage like you get a promotion and you end up with kind of brain damage you kind of lose the access to this empathy but the interesting thing is there are examples of organizations who've really trained people to be able to listen and train people to be able to capture that descent that there organization shares so that requires a certain style of leadership when i was reading that it reminded me of in the seventies there was a huge blackout in new york city and i read about alone con ed worker sitting at a bank of equipment late at night when a cascade failure started to occur and he's looking at he was seeing it but he just could not believe what was happening interact and i think that that was quite possibly part of what insulated the leadership at lehman from seeing the situation as it was i mean andrew ross sorkin in in too big to fail just has a kind of a great portrait of that management structure as one that is really challenged in seeing kind of the the writing on the wall which leads to a failure of imagination for example prominent economists like ben bernanke they insisted just before the two thousand eight economic collapse that.

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