I blogged yesterday over Andrew Lahde who bragged about the ease of making vast sums of money against the Harvard and Yale MBA crowd morons. As he correctly pointed out….all of the vast banking operations and insurance operations that failed over the past sixty days….were run by a club of fools who gain some kind of certificate via a fine MBA college and stood amongst the elite. The same crowd ran around the
I think Andrew ought to coin this concept….because of the vast number of folks who got an automatic pass to be a big player in the world of finance or government or banking or companies….just by getting some dimwitted parents get you into the front door of a major university. The daughter of Hillary Clinton would be a candidate of such a concept….making almost six figures upon graduation from college and actually thinking she was capable of running a real operation. Across the US today….we can find 250,000 Lahde-fools who got into management and will screw up as much as they can before they get fired or promoted (note: either way, they go somewhere else).
The US Air Force runs with the same Lahde concept…if you graduate from the Air Force Academy….you automatically get a “pass”….and can quickly move up and be someone of various standing….thus screwing up organizations, operations, or continuity. They could walk in and quickly advocate “change”, when the change they suggest of no value and doesn’t save a penny of funding.
Six months ago, there was a massive shift of a function on Ramstein, with a carefully word phrase of “saving funding” within the shift. When the change was complete….someone of high standing (a general of course) tossed the magic term to the budget guys….”how much did I save?” It was an amusing moment….because the budget guy looked at the individual and said “nothing was saved”. This led to a group meeting later where the individual looked at the dimwits who advocated the change and they had to show some charts and claim man-hours were saved somewhere in the process. It wasn’t a significant quantity….nor did it make the whole change worth accomplishing. The change was based on selling change….and more change….and even more change….across to everyone. “Change is good” is a motto that these individuals use often, but with no meaning.
The Lahde concept says a lot. Folks are financing fantastic college experiences for their kids….sending them states away….to get a certificate of some value which leads onto a real position of importance in life. Imagine going off to Harvard or Yale or Princeton….to entertain yourself for four to six years…..merely to get a position in life which has no practical value beyond the paper its written on. You could have accomplished the same thing at
It didn’t take a genius or group of geniuses to arrange the creation of the mess for the bailout. It took Harvard,
The Lahde concept ought to be written up in a book. Every company that hires….ought to bring in the top ten candidates for a job….and immediately cut out the college name on the guy’s resume. They ought to actually ask stupid and smart finance or business questions to test the guy….because obviously Harvard isn’t teaching them smart finance. Yale isn’t teaching smart business operations. And