The Own Up

I think William Cohan gets it right when he says this:

Until Wall Street CEOs admit that their blind ambition and ravenous greed resulted in decision after decision, year after year that put their firms, and now our financial system and way of life, at perilous risk, there can be no healing, no redemption, and no recovery. The sooner we squeeze the life out of the pathetic myths that Wall Street continues to perpetrate as if we were all idiots, and the sooner we face the truth of what happened and why, the sooner we will be able to put this dreadful chapter in our history behind us. Let’s get on with it already.

It's time for the CEOs and banking executives who got us into this mess (who seem very quick to blame homeowners, but not themselves), to own up to their failures as leaders. And the honest thing to do would be resign for their bad decisions.

But I ain't holding my breath.