RE: [Root_Cause_State_of_the_Practice] Some Important RCA Terminology
IMHO, the corrective actions for this event will not address the long term stability of the economy.
The guy hit it on the head (but still miss drove the nail) when he talked about consequences for speculators (failed to included home buyers, and a complicit government plan to have “everyone” be a home owner, regardless of credit).
The “stimulus” package and monetizing our debt only placed the consequences on the innocent tax payers (and their children’s children) instead of letting the companies fail / go bankrupt. Those that thought they could enjoy the benefits of the risk without suffering the pain of failure, turned out to be right. The non-participants took the consequences in lost jobs, taxes, and a debt that is unlikely to be repaid, and will likely bring the next consequence, a collapse of the middle class and a major loss of constitutional rights. Sol Alinsky is smiling smugly.
See the article at http://nyti.ms/UEIsqf
It could be rewritten to apply to any one of several high hazard industry blunderous fiascoes.
(Which ones leap into your mind?)
The article is a source of the contextual meanings of
- ride roughshod over
What other important RCA terms are mentioned or evoked by the article?
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William R. Corcoran, Ph.D., P.E.
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