Has Nick Leeson drawn too much of the blame for what went wrong at Barings Bank? Who else bears some of the responsibility? Why?

What will be an ideal response?


Nick Leeson's supervisors, Barings' board of directors, and bank regulators also deserve a portion of the blame. Barings' managers are culpable for not controlling the limits on Leeson's exposures and requiring documentation that would have shown the source and cause of Leeson's large cash needs. It appears as if Barings' top management did not have a clear idea of how Leeson's profits were earned and the risks he was taking.
Barings' management and its board of directors can also be criticized for ignoring the warnings of internal auditors, external auditors, and regulators.
Barings' board of directors and the Bank of England can be criticized for not requiring Barings' management to have reporting systems in place that would have exposed risks
of the nature and magnitude Leeson was taking.

Business

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