That action facilitated the excesses of the banks, but had nothing to do with the implementation of shareholder value outside the banks, and all the disastrous consequences that followed from that, including massive offshoring, destruction of manufacturing capability, inability to innovate, declining ROAs and ROICs, accelerating topple rates of leading firms, excessive C-suite compensation and so on.
FORBES: The Founder of 21st Century Management: Peter Drucker