Accountability in leaders
In watching the economic meltdown which began Oct. 9, 2007, on Wall Street and reached a fever pitch in September 2008 with Lehman Brothers bankruptcy, one must ask where was “the cop on the beat?” (The government) These large investment bankers and other Wall Street CEOs have acted with arrogance and disdain for the people they would claim they cared the most about: “the stockholder,” “the little guy,” “the common man,” “the employees,” or “the children.”
These leaders’ actions prove otherwise. Arrogance, ego and power unchecked by government oversight or a firm-handed board of directors lends to risk taking that may be self destructive or counter productive to the people or stockholders’ interests. Our anger today at Wall Street and disappointment with government oversight that was truly lacking is indicative of many boards at the local, state and national level.
We can see clearly today the need for ACCOUNTABILITY in government and its elected and appointed leaders. As farmers, we understand ACCOUNTABILITY every day. If we plant when it is too wet in the spring, we pay the price with fewer bushels in the fall. If the hogs or cattle are too light or too heavy at the marketplace, we are financially docked, sometimes severely. Wall Street CEOs have rarely played by the rules they set out for others to live by. In today’s version of Wall Street ACCOUNTABILITY, our jobs are outsourced to China, our health care costs increase three times the rate of inflation while coverage is diminished; then the CEO is given a bonus in stock or cash for his “good work.” Then we the people need to find two jobs to replace the one good one we had while trying to stay healthy. Then we get to see our loved ones even less, building for more social stress in life. Where is that factored in the bottom line? When CEOs make a bad decision, they come to us and beg for government bailout, which IS you and me. Upon receiving the bailout, they demand the checkbook with a pat on the head and their promise to do better. This is unacceptable and lacks ACCOUNTABILITY. This “good old boys club” mentality must be checked at the boardroom door. Our children are watching and learning by our actions and not our words.
It was told to me as a story but with some sense of truth. For every dollar wasted in Washington at the federal level, 10 are wasted at the local and state level. The lesson is, if we desire better government nationally, we must create and maintain better local governance. That takes all of us for our voices to be heard. Holding local leaders ACCOUNTABLE is in everyone’s national interest. It is not disrespectful to disagree; disagreement, discussion and then consensus builds for a broader base of support and makes for better outcomes.
CEOs and boards who act with impunity will eventually be held ACCOUNTABLE by: “the stockholder,” “the little guy,” “the common man,” “the employees,” or “the children.”
Keith Bolin of Manlius is president of the American Corn Grower’s Association.
