The Triumph of Failure

Imagine what would happen to your career if you failed so utterly in every aspect of your job that the result was the exact opposite of what you were aiming for. You would not expect a big leaving party with a strippagram, lots of presents from grieving colleagues, a hyperbolic speech from the boss praising your professionalism and talent and a big fat cheque in appreciation of what you had done.
No, more likely you would be given thirty minutes to clear your desk before being escorted off the premises.
Little Nicky Machiavelli’s definition of social justice is very simple, SAME RULES APPLY, so we would hope that in any business whether the failure was of a low grade hireling, middle ranking exec. or a CEO the exit would be equally ignominious.
Are we all agreed?
Right. So can anybody explain why when a clerk, a shelf stackers or a burger flipper screws up you would think from the reaction they had sold their security pass to Satan as they departed with the words “and don’t expect a reference” ringing in their ears, the CEO of Northern Rock expects his severance package to run to millions while the recently departed CEO of the world’s biggest investment bankers Citigroup, whose wild adventures in the world of sub – prime lending will cost his finance company billions (they’re still counting) will be rewarded for his ffff failure with a golden handshake estimated at $95 million. Even at current exchange rates that’s a lot of money and makes failure an attractive career move.

And we have been told by politicians from Thatcher to Blair and Brown we should admire and seek to emulate America’s meritocracy. When it is put in perspective it makes our current economic plight (and theirs)more easy to understand.

10 thoughts on “The Triumph of Failure

  1. Well said, although do millions make a dent in that money-halo that keeps the higher echelons floating above reality? And could that be a telling indication of how much governments make from, or are in the pockets of, corporates, and how much the corporates themselves profit from the subservient chattel they deign to tolerate?


    1. Its not the money these guys steal for themselves that hits, but the way they do it. What it amounts to is creating virtual money, rather like on second life.

      Give a £200K mortgage to someone earning £20K a year, and by the magic of accountancy you then have a £200K assest which can be used as collateral(unsually bundles with thousands of other such “assets” to secure further loans.

      While the Japanese, Chinese, Indians and other far east economies were lending at virtually zero interest the bankers could get away with taking such insane risks. But now those coutries are keeping their trade surpluses at home.


      1. Does that suggest if the Chindijaps kept their interest rates low and the Bwankers just sat around waiting for people to pay off so many more months/years of their mortgages whilst keeping their own dividends, bonuses and wages low, they could recover without there being a pirahna feeding frenzy? Or can’t they do delayed gratification? My understanding of economics is negligable so this is at least likely shallow if not misconstrued, however I cannot get my head around the fact a certain echelon of the human race have turned life into a monopoly board game where people actually suffer everything from anxiety to torture, starvation and death, just so they can carry on their games. My mind boggles :Boggly-mind:


      2. And my mind blogs.

        If you remember Thatcher’s economic doctrine, monetarism (controlling the money supply), what is going on now exposes the lie. It actually meant controlling the supply of money available to the punters so that the banks can create virtual money by lending, increasing credit card limits and writing up the value of assets.

        But I’m spoiling future posts.


  2. True, there is a lot of work still to be done and i don’t see anyone around to change it.

    The trade union activist went out with the Rubix Cube.

    For my part I don’t want them to get what we get, I want us to get what they get.

    These guys don’t get the bullet they resign, they retire at fifty they come back in as an adviser on the same dosh plus pension.
    I met my full of them at meetings they come out with lists of job cuts and redundancies with their sad expressions, they couldn’t give a monkeys fuck.
    Come the revolution my friend six bullets would do me fine I have names for all six.
    So comrades come gather Dararararara daradadadadada unite the human race.
    I fuckin enjoyed that


    1. That’s the kind of stuff I like to hear.

      Its disappointing of course to learn just how little money some of those old fire-breathing socialists were prepared to sell their souls for.


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