Initially it was all about the mistakes that the business executives committed would lead to a resultant loss of company profitability topped by the firing of workers here and there. But this is not the case anymore; the trend is changing and soon we will be held ransom by these ever powerful individuals who are moving towards shaking the world economies.
Take for example the example of Enron the name became such a dirty word that Houston's MLB team, the Astros, changed their ballpark name form Enron Field to Minute Maid Park after the Business scandal.
I will give an example of Jeffrey Skilling who is now on a 24 year jail term exploited the deregulated energy market in the 1990's bring profits of over $130 million in just one year. Together with his conspirators they controlled the energy market before later falling to a Congressional hearing and going bankrupt.
Kenya on her part has not been spared from the same issues that are following the global money markets today. It seems that there is LACK OF POLICY. The public especially those actively involved in the banking sector are not alien to the collapse of Euro Bank that had accounted for only 03.% of the systems deposits. It is evident that the collapse of such banks are pegged on the change of guard at the political helm when the said guard apparently goes away with their protective hand.
With the downfall of this bank was also the severe loss of public funds such as Postal Corporation of Kenya 159 million, NHIF 479 million, Kenya pipeline 59 million just to name a few.
When can we learn that we need an adequate policy guidelines that will ensure that we no longer have the laxity culminating in the looting of public money.
It seems that the political class no longer has a major role especially when they leave monetary systems at the whim of foolish self centered business moguls.
By all the powers that be we need a monetary policy that will ensure that we do not go the way that great economies of this world have gone in the immediate past.
Take for example the example of Enron the name became such a dirty word that Houston's MLB team, the Astros, changed their ballpark name form Enron Field to Minute Maid Park after the Business scandal.
I will give an example of Jeffrey Skilling who is now on a 24 year jail term exploited the deregulated energy market in the 1990's bring profits of over $130 million in just one year. Together with his conspirators they controlled the energy market before later falling to a Congressional hearing and going bankrupt.
Kenya on her part has not been spared from the same issues that are following the global money markets today. It seems that there is LACK OF POLICY. The public especially those actively involved in the banking sector are not alien to the collapse of Euro Bank that had accounted for only 03.% of the systems deposits. It is evident that the collapse of such banks are pegged on the change of guard at the political helm when the said guard apparently goes away with their protective hand.
With the downfall of this bank was also the severe loss of public funds such as Postal Corporation of Kenya 159 million, NHIF 479 million, Kenya pipeline 59 million just to name a few.
When can we learn that we need an adequate policy guidelines that will ensure that we no longer have the laxity culminating in the looting of public money.
It seems that the political class no longer has a major role especially when they leave monetary systems at the whim of foolish self centered business moguls.
By all the powers that be we need a monetary policy that will ensure that we do not go the way that great economies of this world have gone in the immediate past.
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