Barrel Strength

Institutions which deal with the public have to practise “diversity”, but the diversity hospitals practise is based on metrics of real differences, about which no politically correct squeamishness can be tolerated. In an environment where people’s lives are at stake, little allowance can be made for pride, prudery, or excessive sensitivity to bodily functions.

Hospital staff is generally locally-hired and of the dominant culture. Patients can be anybody: immigrants unskilled in either offical languages, or natives of different, unassimilated cultures. How different? And how is it handled? The answers are fascinating because they illustrate how an institution must deal with the realities of cultural and racial differences, in a time when political correctness would deny their existence or their significance.

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A lynch mob has been unleashed in US and institutional advisers have taken note.

“Let’s go hang ‘em.”

American history is replete with examples of lynch mobs taking control of a situation and inflicting injustice.  In the end most lynch mobs have dealt harmful blows to society….

At Cumberland, we are advising institutional clients to take great care when engaging in any form of activity with the federal government.  Simply put: a lynch mob can turn on you in a second and cannot be trusted.  The risk is now very high.

Other firms that are already acting with TARP monies, or other federal monies for that matter, are seeking ways to deleverage and exit.  In the entrepreneurial and risk-taking business and financial community the universal response to this act by Congress is outrage and distrust and disgust.

ACORN has taken this opportunity to fund protests at the homes of AIG executives and across the pond anti-capitalist have attacked the home of ex-RBS boss.  In 1930s FDR displayed “astonishment that wealthy Americans would deliberately arrange their finances so as to lower their tax burden [which] seems almost quaint to us today”.  It seems similar lesson will have to be learned again.

Obama has been silent on lynch mobs, but then that is not a surprise.  After all this is the administration that verbally attacked a private citizen, one Rush Limbaugh, and represents a party that has decoupled itself from the private sector.

Update: The Swiss hide.

Switzerland’s private banks have started to ban their top executives from travelling abroad, even to neighbouring France and Germany, because of fears they will be detained as part of a global crackdown on bank secrecy.