Most of the time, your risk management works. With a...

Most of the time, your risk management works. With a systemic event such as the recent shocks following the collapse of Lehman Brothers, obviously the risk-management system of any one bank appears, after the fact, to be incomplete. We ended up where banks couldn't liquidate their risk, and the system tended to freeze up.

Myron Scholes Quote About Bank, Banks, Collapse, Ended, Event: Most Of The Time Your...

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