Obviously you can't place all the blame on the traders and bankers at many of the banks that announced large write downs, so what about the risk management department? Regulators from 5 countries put together a report that details the performance of the risk management divisions. It looks like they didn't perform up to standards.
More from BreakingViews:
http://www.breakingviews.com/2008/03/07/Credit%20spreads.aspx?email
http://www.breakingviews.com/2008/03/06/Buffett.aspx?email
http://www.breakingviews.com/2008/02/27/China%20oil.aspx?email
Saturday, March 8, 2008
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