HSBC

taken from David Eldon's blog (former executive at HSBC) Just want to share with everyone of you. I thought his writing is witty, hilarious and to the point. just love the Brits.. I will be a loyal reader from now on..

"Do you think management should step down to bear the responsibility for the group's deteriorating performance?"

Wow! Can you ask that again? I suggested to Ms Law that the question was not terribly intelligent and pre-judged the results which I assumed she had not seen. What, I asked her, was the performance bad in relation to - other global banks? Had other management stepped down in roughly comparable banks? I did not say - although I would have hoped she could have worked it out for herself - that of all the banks, both HSBC and Standard Chartered seemed to be judged to have done reasonably well under the circumstances.

Perhaps I should have asked Ms Law if in fact her editor should not consider stepping down to bear responsibility for the deteriorating quality of his or her reporters questions. Or if the head of Morgan Stanley should step down for allowing his analysts to make comments based on insufficient information, which they seemed to admit to (Morgan Stanley analysts backtrack) after the damage had been done.