Myth 189 - The Foreign Talent Myth
Myth We have seen Merrill Lynch, UBS, City Banks, Barclay Banks, Bank of Scotland and what else, all needing to be rescued. Then came Fannie Mae and Freddie Mac. Today we heard that Lehman Brothers, another giant investment house in deep trouble. I believe, not a difficult think to do, that all these banks and financial institutions are run by the best talents the US and Europe have. And they all ran their companies into deep shit. So much talks about foreign talents. Count ourselves lucky that we did not engage the top talents of these organisations and pay them hundreds of millions to run our financial institutions. We would have been broken by them. It is lucky that we only managed to get the 3rd or 4th rate talents. Now, when all these talents loses their jobs, will we queue up to invite them here with handsome pay package as our best foreign talents, just like we went for fire sales for UBS, Merrill Lynch etc etc? These talents must be up for grabs at a discount.