Hearings, investigations and ethics trials. Old news except this time it’s U.S. Rep. Maxine Waters and Charles Rangel, not CEOs or board directors who are clamoring for a fair hearing. We take no joy in the tribulations of our elected officials, and they may yet turn out to be wrongly accused. But we pause for a moment to ponder the ramifications.
When Wall Street leaders and other denizens of the boardroom are brought before Congress and demonized, it appears the scales are tipped against business executives, regardless of the facts. Many have mentioned to me that they are brought there solely for the browbeating and broadcast rights. Although in light of this year’s election coverage, these two cases will most likely be settled early or drawn out beyond, the folks at home will have a chance to see how the system works when the tables are turned.
Jeffrey M. Cunningham is a frequent speaker and writer on governance topics and the boardroom. He is managing director and senior advisor to NACD and has served as a director or chairman of 10 public company boards.