Democrats and Republicans Tussling Over The Rescue Package
- By Professor Prabhu Guptara
- Published 10/9/2008
Professor Prabhu Guptara
Professor Prabhu Guptara is Executive Director, Organisational Development, Wolfsberg (a subsidiary of UBS - one of the largest banks in the world). He is also Freeman of the City of London and of the Worshipful Company of Information Technologists, and Chartered Fellow of the of the Chartered Institute of Personnel and Development; he is also Fellow: of the Institute of Directors, of the Royal Commonwealth Society, and of the Royal Society for the Encouragement of the Arts Commerce and Manufactures; and he continues to supervise PhD research at the University of Fribourg (Switzerland) as well as to be Visiting Professor at various Universities and Business Schools around the world.
Earlier roles include: a Governor of the Polytechnic of Central London, Member of the Council of the British Institute of Management, of the International Federation of Training & Development Organisations (IFTDO), of the Association for Management Education and Development (UK), of the South East Regional Council of the Confederation of British Industry.
Judge, 1988 National Training Awards, 1980 Commonwealth Poetry Prize, 1990 & 1991 Deo Gloria Prize for Fiction; Chair of the Panel of Judges, Deo Gloria Prize 1992 & 1993.
Experience with an enormous range of organisations including: Akzo Nobel (Netherlands), the Associated Banks Institute (Germany), Barclays Bank (UK), British Petroleum (UK), the Council of Europe, Cultor (Finland), Deutsche Bank (Germany), Groupe Bull (France), Federation of Finnish Engineers (Finland), the International Management Association of Japan, Kemira (Finland), Kraft Jakob Suchard (Switzerland), Leadership Academy (Finland), Nokia Telecommunications (Finland), Novo Nordisk (Denmark), Sedgwick International Insurance and Reinsurance Brokers (UK), Singapore Institute of Management, Sonatrach (Algeria), Sun Alliance (UK), UNCTAD, Valeo (France), and so on.
Organiser, chair and lecturer by invitation for numerous international conferences, he has contributed widely to radio and television in the UK and other countries (The Money Program, Any Questions) and has written for Financial Times (London, UK), The Guardian, The Times and other publications; articles, for example, in The Gower Handbook of Management, The Gower Handbook of Quality, and the International Encyclopedia of Business & Management (Routledge).
A CD-ROM has been issued of his lecture at the Professorenforum, University of Zurich, titled "Making the World Better - Why it does NOT happen...and what TO DO about it"
Further information available from rbadertscher@coba.ch
His best-known research publication is "Top Executives in the Global 100 Companies and their IT-Competence" (ADVANCE: Management Training Ltd., UK, and Wolfsberg Executive Development Centre, Switzerland, 1998); and he is included in Debrett's People of Today and in Who's Who in the World. Professor Prabhu Guptara lives in Switzerland.
Apparently, a struggle is taking place in the US Congress regarding the exact terms of the rescue package for the US (and international) financial system. Equally apparently, the proposed bill was supposed to have been $500bn, is now $700bn - and no one knows what the final size of the bill may be.
A statement issued on behalf of Nancy Pelosi, the speaker of the House of Representatives, reportedly says: “Congress will respond to the financial markets crisis by taking action this week in a bipartisan manner...(but the Democrats) “will not simply hand over a $700bn blank cheque to Wall Street....(and would like to have) independent oversight, protections for homeowners and constraints on excessive executive compensation.”
Protections for homeowners are needed and will be popular. Constraints on excessive executive compensation are equally needed but will be unpopular (at least with the executives of financial institutions).
However, the real question is whether the US legislative system has the nous to put together with any speed anything like the brief required to put together any agency for "independent oversight".
Indeed, the US needs to ask whether another agency is what is needed. Rather, can the entire fragmented US system not be put together within one framework that, at the same time, avoids the overlapping monopolies of the different agencies there while allowing for much more competition?