Abstract
As one highly rated financial firm after another blows up, what is the right conclusion to draw about enterprise risk management (ERM)? Does the financial crisis of 2008-09 demonstrate its criticality, or does it bring the whole concept into disrepute?
Alan Greenspan has been criticized for his admission in Congressional testimony that he had “looked to the self-interest of lending institutions to protect shareholders’ equity” and was “shocked” that such self-interest had not motivated better risk management. His critics claim that such a view was naïve and that more regulation was (and remains) necessary.
Keywords: Enterprise Risk Management
Page
26-27
Year
2008
Categories
Actuarial Applications and Methodologies
Enterprise Risk Management
Publications
Risk Management: The Current Financial Crisis, Lessons Learned and Future Implications
