In the light of Moody's admission of computer error:
A mediocracy does not believe in innate ability. It believes that anyone can be a philosopher, mathematician, or central bank chief — provided they have had appropriate training. A mediocracy does not believe in the value of thinking, or in individuals having innate powers of judgment. It believes in following procedures, making rules, ticking the boxes.
[Fabian Tassano]
Fabian quotes the FT:
A mediocracy does not believe in innate ability. It believes that anyone can be a philosopher, mathematician, or central bank chief — provided they have had appropriate training. A mediocracy does not believe in the value of thinking, or in individuals having innate powers of judgment. It believes in following procedures, making rules, ticking the boxes.
[Fabian Tassano]
Fabian quotes the FT:
As one senior risk manager writes ... “we did express to senior management that we lacked the analytical skills ...” (FT)