What these entrepreneurs, CEOs, promoters and lobbyists (Overall MBA graduates) did to United States? They dragged the world economy into the great financial crisis. The highest positions like US Treasury Secretary, Economic Advisors, Head of Securities and Exchange Commission, Head of Federal banks etc. were occupied by leaders of financial conglomerates but instead of serving the nation these people cheated with their own nation and created wealth for themselves and for organizations.
Once they got the chance, they diminished the financial regulation imposed by Law on Investment banking and Insurance industry and these investment conglomerates made the investors fools by selling them securities & derivatives that were never owned by these firms or never existed. By evading the regulatory rules they cooked the books and earned money by issuing debt beyond their curb. These people went to the highest extent of corruption by issuing the bad debts to their relatives/kins in spite of knowing the fact that these amounts would never be paid back which led the bankruptcy of Lehman Bros. and several other firms.
Since these business tycoons were there in the top Administrative and decision making position, they just used US Cash reserve to save their own companies in the name of bailout package. Which federal officers would have made the call that they would not purchase the shares in these firms when they were bailing them out of crisis?
So, it’s clear that these entrepreneur, CEOs, top officials of companies work for their own profit. If they have to cut their costs, they won't think for a minute and will fire thousands of people.
Do you want these things happen to India? If the Indian Administrative officers won’t restrict these corporate houses and MBA graduates then I am sure that our nation would become dependent on the mercy of few Conglomerates. You can’t say that these CEOs work for nation, they work to increase their wealth.
No doubt, MBA graduates from top institutes are the brightest minds and do know business well. But in India, very few Administrative officers have the courage and dedication to take the society as well as the Indian economy to the best level but the dirty politics is always there in their root.
