Sunday, December 28, 2008

Financial Crisis

The post-mortem of the failure of the financial system clearly indicates not one, but many bad practises in the financial industry. I am sure everyone must have read many. In one of the articles I read, Kerry Killinger makes the following prediction of Washington Mutual.

We hope to do to this industry what Wal-Mart did to theirs,Starbucks did to theirs, Costco did to theirs and Lowe’s-Home Depot did to their industry. Five years from now you’re not going to call us a bank.

Second part of his prediction is accurate!! :P

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