When you use an active sentence, you are forced to give a sentence a subject in English.
Mary kicked the ball.
The Saints won the Super Bowl.
The executives of major financial companies either made serious mistakes or presided over wide-scale fraud leading to the collapse of the world financial network and the disappearance of millions of jobs.
If you work on Wall Street, you apparently do not like the active voice. Instead you prefer the passive.
The ball was kicked (by Mary but only if you can prove it).
The Super Bowl was won (but no particular people were responsible for that).
The collapse of the world financial network and the disappearance of millions of jobs ummm just happened. (The executives at the time certainly didn't do anything to bring it on.)
And so CIT group has just hired as their new chairman and CEO the former head of Merrill Lynch, John Thain. You may remember Merrill Lynch. Last time we saw it, it was collapsing into bankruptcy. A stalwart financial company of over 100 years, a bellweather and safehaven, dying quickly with billions in unsecured investments about to go poof. The government pushed it off to Bank of America and then Bank of America was bailed out to keep it all going. Who was the head of Merrill Lynch during this catastrophe?
John Thain, of course.
Here's his resumé from the Yahoo AP article:
"Thain, 54, served as chairman and CEO of Merrill Lynch until its sale to Bank of America was completed in January 2009. He resigned under pressure from the combined company after reports he rushed out billions in bonuses to Merrill employees in his final days as CEO, while the brokerage was suffering huge losses and just before Bank of America took it over.
Prior to Merrill, Thain served as CEO of the New York Stock Exchange and president and chief operating officer of Goldman Sachs."
It's an impressive resumé no doubt. Particularly since no one at NYSE, Merrill Lynch, or Goldman Sachs did anything wrong. So there you go. For presiding over the destruction of Merrill Lynch, he gets hired to direct the new CIT group.
That financial collapse was just so unfortunate. No one really did anything to bring it on and there's no one to blame. And so on we go... in the passive.