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Did financial risk as a discipline actually fail? I dont think so….

I have not worked in the Financial Risk industry and therefore a neutral observer. I have been reading on the build-up, causes (global and country-specific) and manifestations and want to add to the literary debate that has been overshadowed by media attention, political blame-shifting, regulator-bashing with blanket statements such as ‘they did not understand the risks they were taking’. In this post, I argue that ‘Risk Management in the Financial Industry has been no more /less effective than in other industries’. This is a contemporary theme and is being developed by economists and international experts, but I am tempted to add my few Read the rest of this entry