"Jimmy Carter is a failed president".

Jimmy Carter got more legislation passed than any other president who served a 4-year term, and more than many presidents who got 8-year terms. He brokered the only peace treaty between a Muslim country and Israel, one that's stood the test of more than 30 years, and won the Nobel Prize for his actions.

Sometimes it takes a long time for someone else to recognize just how good or bad someone was. No matter what, it takes guts to actually have a stand on something and work hard to follow through with that stand. That's one of the things that separates leaders from everyone else, the belief in themselves to at least try something, even if it goes against the grain, and to actually show achievements, whether they're acknowledged or not.

Of course there's ineffectual leaders who do the same thing. There are people who are probably wishing the Bank of America leadership would step down after the bad news they posted today. In 2008 and 2009, many leaders were asked to step down because of bad decisions they allowed to occur on their watch. Leaders are always responsible for the actions of those under them, whether they authorized it or not. Unfortunately, most of the time they did authorize it.

When leaders make bad decisions, you can usually count on two things that happened for sure. One, they didn't ask the right people for advice, or didn't listen to those people. Two, they didn't ask anyone for advice at all, just came up with an idea, possibly how they thought it would work, and told others to get it done. It's not 100% of course, but it's the overwhelming majority.

Still, perception counts for a lot of things as well. Even Carter acknowledges now that some of the things he did he hadn't totally thought out as to how people would react to them. Having the President sitting in a chair in a sweater telling people to turn their heat down isn't comforting. Not recognizing how Americans would react to not being able to watch their national team compete against the hated USSR after what had happened in the Winter Olympics with the hockey team was inexcusable. And allowing the Iranians to take over the U.S. Embassy in Tehran without a fight, underestimating an enemy that wasn't really understood, was unforgivable.

Still, he did a lot for the country because he had his beliefs. If more managers had their beliefs in what they thought was right rather than what they thought would make them look good, overall things would be better for them and their companies. That's what true leadership looks like.