What price the wisdom of Luke Johnson, when his own company tanks? | Catherine Bennett

What price the wisdom of Luke Johnson, when his own company tanks? | Catherine Bennett: The Patisserie Valerie chief should look to himself before lecturing others again

‘Unfortunately,” Luke Johnson wrote recently, “financial illiteracy permeates society from top to bottom. Too many ordinary people do not understand mortgages, pensions, insurance, loans or investing.”

Johnson, the entrepreneur whose biggest asset, Patisserie Valerie, now needs bailing out, was being generous. Even after the 2008 financial crisis confirmed that corporate incompetence warranted unwavering public scrutiny, too many ordinary people remain equally ignorant about the operations and capabilities of business leaders, even those, like Mr Johnson, whose influence extends far beyond his imperilled patisserie company.

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