'MBA graduates led the world into recession'
Richard Fuld, who was CEO of Lehman Brothers Holdings at the time of its collapse, has an MBA from New York University. John Thain, the former CEO of Merrill Lynch, is a graduate of Harvard Business School. Christopher Cox, the former chairman of the Securities and Exchange Commission, has an MBA from Harvard University.
In Europe, Andy Hornby, CEO of British bank HBOS, is another Harvard Business School product. HBOS had to be bailed out in a merger with Lloyds Banking Group and then both had to be rescued by the U.K. government.
Peter Wuffli, who as CEO, presided over the huge losses that took Zurich-based UBS AG to the brink of disaster, studied management at Switzerland's University of St Gallen.
the Master of Business Administration (MBA) factories created the conditions that helped land the global economy in the current mess, writes Bloomberg columnist Matthew Lynn. He also suggests that the business schools should be shut down.
clipped from: www.siliconindia.com 