AIG, Sherson Lehmann, Merrill Lynch - PR Spin Can Only Go So Far...

If there has ever been proof that a good publicist can only spin the truth so far, and for so long, this is it. For the past several years, the C-level executives and the boards of financial insitutions like AIG, Merrill Lynch and Lehmann have spun their balance sheets to appear rock solid. Yet, little by little, the tides of time and finance have eroded their image, until finally the entire wall of deception has come crashing down. Yes, in the end performance does count, but did the truth come early enough? Or did the spin-meisters do such a good job that the damage is irreparable.

In actuality AIG, Sherson Lehmann, and Merrill Lynch all dropped the balls on their businesses while taking self-voted bonuses, pay increases and who knows what else. They took on too much risk and made the same assumptions that the rest of the financial world made. It's not just about balance sheets and numbers, it's about a mindset. Namely, that if they just kept their heads down long enough, and gained enough fact-dodging press, the financial storm that was building would blow over and everything would be fine as day.

Hello Katrina?

The sad part is not that for most executives at these institutions, the packages they created enabled them to walk away with a nice bundle and live out their lives in comfort. The sad part is that the issues these financial institutions are having is indicative of a much larger problems. They are run by people that have the same mindset as those running this country. It's a mindset that is short term at best, and at worst borderline criminal, with absolutely no interest for the public trust, just their own greed.

It's no wonder we have lobbyists running Washington, lobbyists who are in bed with the failing companies, and with our elected officials of both parties. Ever wonder why irate Congressmen and Congresswomen railed for years about "why weren't we helping more American's buy their homes?" Well, they got us to buy!

So kiddies, the lesson here is a simple one. Don't lie. Don't cheat. Work hard and do your work well, and good things will happen. Oh no, wait. That was the attitude that made this country great. Hmmmm, now I wonder where the attitude of "work hard, make a good buck at any cost and run like the wind when things go bad" will get us...

The storm, she is a comin....