“I don’t know if it’s male versus female, but I am told my management style is more inclusive,” says Lagarde. It has to do with forming a team’s view, having a consensual approach, “‘wasting time’ on occasion” to build consensus so that “you will not need to waste it in convincing people to implement.”
“Even if it means not appearing as decisive—you know, ‘This is my way or the highway’—I don’t work that way,” says Lagarde. “At the end of the day we have to reach a compromise and a common platform, but I think it has to include as many people as possible.” She pauses for a second. “I leave aside the bastards, because that’s one thing that I don’t compromise with: people who lie, people who cheat, people who are not with the group and behave like parasites. That, I can’t stand.”
Wow! Go figure, someone who actually expects honesty and integrity from her team. What a nice benchmark to set on such a high stage as the IMF which is out to save the world from a global depression. Do yourself and your portfolio a favor and read the whole article that summarizes just how big our global monetary problem has become.
This morning my financial planner told me that the annuity I was looking at which pays 10% will be going down to 7% in March. Even the biggest companies are questioning the return on their own investments, that should send a bigger red flag through your portfolio than what’s happening in Europe. My financial planner also mentioned that the risk is so great that some companies (AXA) are pulling back on their annuity programs.
Keep your eyes on Ms. Lagarde as she tries to bring our global monetary problems back from the brink by employing honesty as her best policy. “She was the one who opened their eyes to the magnitude of the problem,” says the IMF old-timer.
The word Lagarde keeps coming back to is “confidence.” Without it, nothing works. And confidence comes from leadership. In her no-nonsense way, that is precisely what she aims to deliver—not only for her institution, but for the world. (Full story.)