Bank Failures, Berkshire Hathaway | featured news

Buffett Charges Ceos And Directors Failed Banks Have Gone Unscathed

 Buffett Charges Ceos And Directors Failed Banks Have Gone Unscathed

The one man Berkshire Hathaway Risk Committee and Chief Risk Officer, 79 year old Warren Buffett, says that directors of major banks are "derelict" if they don't "insist that [their] CEO bear full responsibility for risk control. If he's incapable of handling that job, he should look for other employment. And if he fails at it -- with the government thereupon required to step in with funds or guarantees -- the financial consequences for him and the board should be severe."

 

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