“The era that defined Wall Street is finally, officially over. Michael Lewis, who chronicled its excess in Liar’s Poker, returns to his old haunt to figure out what went wrong.” “The End” by Michael Lewis is a smart analysis of Wall Street’s latest troubles. Following on the heels of market meltdowns are tales of betrayal and financial loss resulting from the Bernard Madoff scandal.
Nonprofits, foundations, and philanthropy have been deeply affected by these catastrophic events. Budgets and staffs of nonprofit organizations are being slashed, resulting in severe cuts in healthcare, education, and social services, as well as the arts.
For the past two decades, a number of us have been helping boards seeking to be more aware and effective. (For Jim Kristie, it’s actually almost 3 decades.) Recent events raise the ante. No longer can for-profit and nonprofit boards amble forward, business as usual.
Stay tuned for my new year posts on board governance and leadership development. 2009 will be the year to take leadership to a new level, with heightened consciousness and models that work.