Evidence abounds that board of directors in several systemically important financial companies in the U.S.

In the 2500-word essay published on the Web site late Thursday PBOC is not one of U.S. or European regulatory agencies by name, but the Enron and WorldCom are identified as "debacles" which should have been a red flag for the control.
"The evolution of the crisis shows that the profit-driven nature of the market, market forces, if unchecked, will lead to asset bubbles and ultimately a disaster in the form of market clearing, such as the financial crisis at this time," the statement said.
It did, however, specifically mention the Chinese who see the U.S. central bank with the company culture.
"Evidence abounds that board of directors in several systemically important financial companies in the U.S. have been awarded as the 'Gentlemen's club,' the seal of all the decision-sponsored by the management," it said.
"This has caused lack of effective checks and balance mechanisms, tolerance excessive risk-taking in pursuit of short-term rewards," said the PBOC.