Analysis The Frenkel Affair: How Not to Manage a Crisis

The problem is not with the fallen Bank of Israel candidate, but the con artists who created the affair.

Jacob Frenkel's decision yesterday evening to end his candidacy for the position of the governor of the Bank of Israel put an end to an embarrassing affair − but not to the root of the problem. The problem, as usual, is not so much in the person appointed, but in the people who appointed him and the mechanism behind the appointment.