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Risk Management for Enterprises and Individuals
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In his novel A Tale of Two Cities, set during the French Revolution of the late eighteenth century, Charles Dickens wrote, “It was the best of times; it was the worst of times.” Dickens may have been premature, since the same might well be said now, at the beginning of the twenty-first century.
When we think of large risks, we often think in terms of natural hazards such as hurricanes, earthquakes, or tornados. Perhaps man-made disasters come to mind—such as the terrorist attacks that occurred in the United States on September 11, 2001. We typically have overlooked financial crises, such as the credit crisis of 2008. However, these types of man-made disasters have the potential to devastate the global marketplace. Losses in multiple trillions of dollars and in much human suffering and insecurity are already being totaled as the U.S. Congress fights over a $700 billion bailout. The financial markets are collapsing as never before seen.
Many observers consider this credit crunch, brought on by subprime mortgage lending and deregulation of the credit industry, to be the worst global financial calamity ever. Its unprecedented worldwide consequences have hit country after country—in many cases even harder than they hit the United States. [1] The world is now a global village; we’re so fundamentally connected that past regional disasters can no longer be contained locally.
Saylor - Personal Name
1st Edition
NONE
Risk Management for Enterprises and Individuals
Management
English
Saylor
2004
1-1234
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