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 ScholesRelated topics
bank following risk worksRelated quotes
No man can be a good citizen unless he has a wage more than sufficient to cover the bare cost of living, and hours of labor short enough so after his day's work is done he will have time and energy to bear his share in the management of the community, to help in carrying the general load.
Theodore Roosevelt
People are going to be living quite soon for 100 years. Our idea of how a family works no longer applies. It's no good saying you're going to have children for 15 years and then you're going to retire and have hobbies, because you've got 40 more years to go after 60 and you're in good health until 90 or something.
Theodore Zeldin
I always felt that my work hadn't much to do with art; my admirations for other art had very little room to show themselves in my work because I hoped that if I concentrated enough the intensity of scrutiny alone would force life into the pictures. I ignored the fact that art, after all, derives from art. Now I realize that this is the case.
Lucian Freud
In the end I created a career of my own, concentrating on my writing and lecturing, reaching larger audiences than I would had I ended up with tenure and a full teaching load. It was Virginia Woolf who said that it is terrible to be frozen out of a sacred tradition-but even more terrible to be frozen into it.
Michael Parenti