The Cause of the Present Recession

'The economic calamity of 2008-2009 was not caused by subprime mortgages, credit default swaps, or even excessive greed. These are only symptoms of the real problem. The root cause of the problem was failed leadership.....We need new leadership [now]: authentic leaders, people of the highest integrity, committed to building enduring organisations...leaders who have the courage to build their companies to meet the needs of all their stakeholders, and who recognise the importance of their service to society.'

Professor Bill George, Harvard University