Harvard's Tainted MBAs Reveal Damaged Brand

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machinehead's picture
machinehead
Status: Diamond Member (Offline)
Joined: Mar 18 2008
Posts: 1077
Harvard's Tainted MBAs Reveal Damaged Brand

That eminent ivory tower beside the Chas. River is looking decidedly fecal in colour --

April 2 (Bloomberg) -- Harvard Business School, stung by
criticism that it hasn’t prepared alumni to cope with the
economic meltdown, will dissect its performance using a practice
it employs to examine corporations in crisis. A task force, created in November at the direction of the
dean, is writing a case study to scrutinize whether the school
is failing to teach students to understand and manage risk in
the current environment, according to Paul Healy, co-chair of
the panel.

Harvard is using the collapse as an opportunity
for self-reflection. The professors will ponder how the school’s
reputation has been tarnished, and may debate articles critical
of the institution and its graduates who helped trigger the
financial crisis, Healy said. Harvard’s alumni include Stanley O’Neal and John Thain, the
former chief executive officers of Merrill Lynch & Co. who
presided over the New York company’s decline; Rick Wagoner, the
ousted CEO of General Motors Corp.; and Christopher Cox, former
chairman of the U.S. Securities and Exchange Commission.

Harvard business degrees are now “scarlet letters of
shame
,” wrote Philip Delves Broughton, a 2006 graduate of the
school, in a March 1 column in the Sunday Times of London.
“Time after time and scandal after scandal, it seems that a
school that graduates just 900 students a year finds itself in
the thick of it.”

http://www.bloomberg.com/apps/news?pid=20601109&sid=aL0jFzKptwwg&refer=home

While the school's willingness to engage in self-criticism is
admirable, this article is remarkable for what it omits. Both the
previous and current U.S. presidents are Harvard graduates. Bush was a
Harvard MBA, no less, while Obama graduated from Harvard Law. Why did
the author omit Bush, as one of the highest-ranking Harvard MBAs
ever? Maybe he's a non-person now, LOL.

I will assert that there is one and only one reason to attend Harvard -- viz.,
to rub shoulders with fellow members of the ruling class. As the
spectacular economic illteracy of George Bush and Barack Obama
demonstrates, it is entirely possible to graduate from this elite diploma mill without
learning a g.-d. thang.

strabes's picture
strabes
Status: Diamond Member (Offline)
Joined: Feb 7 2009
Posts: 1032
Re: Harvard's Tainted MBAs Reveal Damaged Brand

Right...it's all about viz and access.  Complete sham.  The elite institutions used to train stewardship and responsible leadership of the other 95% of the bell curve...though they failed plenty.  Today the elite kids are trained in self interest and the pursuit of wealth at the expense of the 95%...recipe for a dark dark world.

But it's not just harvard...it's the entire elite clique (all the ivy schools, Oxford, LSE, etc).  But Yale Law, Harvard Law, Harvard Biz is the primary feeder system (just a select few of the students) into the higher level club of rulers who define the game for the lower level operators (like Thain) to engage in thoughtless stupidity that bankrupts his company.  And then the nexxus between law school rulers and b-school money lords (the international bankers and hedge fund / private equity types, not the operators like Thain) become the real royalty.  And guess what, that's the CFR/Bilderberg...the highest club for money lords and rulers (no, this isn't conspiracy...look at the membership roster).  They make sure the press keeps the masses focused on little people like Thain and AIG exec bonuses while they stay hidden.

Small point: it's not that students "don't learn a g-d thang" but rather what they learn is the language of elitism, the philosophy of self interest, and the mechanics of serving the ruling establishment so they can get a big-paying job above the masses.  Elite law and b-schools teach virtually no real economics (though law teaches some marxism).  It's the elite econ schools which teach the Bernanke's of the world the economics that keeps us on the path to neofeudalism and teach the financial engineering economists how to destroy our monetary system.

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