How Boards Can Institute A Risk-Centric Culture

Law360, New York (August 10, 2009, 11:28 AM EDT) -- When times are tough, enterprise risk management (ERM) often becomes a popular topic of conversation among boards and executives. But, when times are good, risk is rarely discussed. Taking into account that crises often arise during times of great prosperity, why is that?

Consider recent examples of risk-based incidents that have reared their heads in the midst of euphoria.

Return-hungry investors appeared to ignore the “sub” prefix when investing in sub-prime mortgages prior to 2008, contributing to a precipitous drop in real estate prices. Their actions...
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