I have heard a rumor, though I’m confident it is a fact, that someone recently invited the Deans and senior professors of the world’s major business schools to a one-day closed meeting in a nearby state.
Here is what I was told, presented in the format of a Q and A:
Q1: Why did they come?
A1: They know that the ONLY thing heading south faster than the Dow is the value of MBA degrees from their institutions.
Q2: What public action did they feel obligated to do? Hint: None of them have.
A2: Apologize for training the generation of graduates of their schools who were so effective at using the education they received that they almost destroyed the world economy.
Q3: What is their biggest problem going forward?
A3: They know they will have to rebuild their curriculum, and their faculty, from the ground up, and that will take at least a generation.