Winning the Institutional Investing Race: A Guide for Directors and Executives

CHAPTER 1

Procrustes Rules

In the ancient Greek myths there was a blacksmith named Procrustes who had a magic bed; an iron bed that fit whoever slept in it. He let any traveler passing by try it out overnight and—would wonders never cease!—they all fit perfectly. Of course, it wasn't because of the bed. Rather, if the traveler was too short, Procrustes stretched him to the proper length, and if too long, lopped off the offending parts. This myth has come down to us today as a way to describe fitting a particular element into a predetermined shape or structure, adding where there is too little and discarding where there is too much.

It is also a good description of someone who is making your governance documents, procedures or reports, and even ...