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Survey: Germans Blame Greedy Managers for Crisis

The greed shown by individual managers is the main reason for the ongoing financial crisis according to the Germans. This is the result of a representative survey conducted by HHL – Leipzig Graduate School of Management and the TNS Infratest market research institute. A total of 91 percent of respondents named the greed of individual managers, followed by regulations too soft for banks (85 percent) when asked what they think are the reasons for the crisis which has been smoldering since 2008. The study shows that the Germans also blame policy failure, a lack of economic sustainability and companies seeking short-term profits for the events. There is some consolation for small and medium-sized companies: at 16 percent the smallest number of people thought that family business had failed. A total of 1,005 Germans were questioned between November 9 and 10, 2011.