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A bit has been written about McKinsey’ s ability to walk proud despite questionable ethics. In his book The Firm Duff McDonald relates McKinsey’ s role in creating Enron and sanctioning its accounting practices, and its endorsement of banks funding their balance sheets with debt, and its promotion of securitizing sub- prime mortgages. About the Author • Education – Princeton University, B. in Computer Science – Stanford Graduate School of Business, M. – Stanford University School of Education, M. However, there has largely been silence from the administration on taking any action to remove bad loans from bank balance sheets.
mckinsey clean sheets
Until the hundreds of billions of dollars of impaired assets that currently weigh down bank balance sheets are removed, credit flows will be restricted. Hard work is appreciated. Or so people hope.