Lesson More Important than Solution

See what the US Government has done in this financial or credit crisis - from saving Bear Sterns to saving General Motors and Citigroup - it is all about solutions. To-date, over US$1.5 tillion has pumped in in US, and a similar amount is done in Europe. Yet with so much money pumped in, and interest rates at record low of almost zero percent, it is easier to go bankrupt than to get a loan from the bank.


We live in society that likes to have immediate solution to everything. Our first reaction in a time of crisis is to do something - anything - to make it go away.


Yet it is this very intensity and urgency to solve our problems that causes us to overlook the most important thing in any problem - look for permanent and lasting solutions.


Common sense tells us that every action has its reward and punishment. If you want to avoid an recurrence of a behavior (e.g. lax credit and speculation), you must melt out punishment. Yet the US Government not only not punishing those who committed sins, but is helping them by bailing them out. The US is sending the message that 'there is no punishment for mistakes'.


We must keep in mind that before we can resolve any crisis or problem, we must learn from our experience so that we don't repeat it again. We must keep in mind that the lesson is more important than the solution.


*** If we focus on immediate solution, we will not learn the lesson and likely we will repeat the same problem some time in future.


What do we do now? I am no expert in this area, as even until today, I still cannot understand how come all the big banks in Singapore can afford all the most expensive office rental in town when I see that their business is not so profitable.


The above is my humble opinion, and as this article also appears in my blog http://www.andythecoach.blogspot.com/, you are most welcome to post your comments. Because the more we share, the more we get!



AndyTheCoach

Singapore, http://www.asiacoachingtraining.com/ and www.youtube.com/AndyNgCoach