US Senator wants Wall Street executives to deliver Japanese-style apologies

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    Japan Tobacco execs bow in apology for importing pesticide-tainted dumplings (Feb. 2008)

    US Senator Chuck Grassley (R Iowa) has told the press that he wants Wall Street’s failed executives to deliver Japanese-style apologies to the American people:

    “I’ve suggested it wouldn’t be a bad thing that the leadership of these institutions would take a Japanese-style approach to corporate governance, and I’m not talking about going out and committing suicide as some Japanese do in these circumstances, but I am talking about scenes I’ve seen on television where in belly-up corporations the CEOs go before the board of directors, before the public, before the stockholders and bow deeply and apologize for their mis-management. Something like that happening among Wall Street executives would go a long way toward satisfying my constituents and many Americans that help might be needed and would more gracefully be given by the taxpayers of this county.”


    [via FG]

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