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Financial collapse and the principal agent problem

Geoff Riley

30th September 2008

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Where should ultimate responsibility lie for this unholy mess?

Government failure?

Regulatory failure?

Management failure?

Failure of the shareholders to exercise proper controls over management?

In years to come we will be writing about

Adam Applegarth (Northern Rock) Steven Crawshaw (Bradford and Bingley) Andy Hornby (HBoS)

and using these people as exemplars of total management failure allied to a failure of regulators to exercise sufficient oversight.

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Geoff Riley

Geoff Riley FRSA has been teaching Economics for nearly forty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD and Revision conferences in the UK and overseas.

@tutor2uGeoff