Prologue: Crisis Redux

Erik Banks

A chapter in See No Evil, 2011, pp 1-4 from Palgrave Macmillan

Abstract: Abstract I call it the “risk manager’s moment”: a point when you feel nervous tension, light-headedness, a sense of disbelief (and yet, somehow, not really), perhaps a tinge of nausea. And helplessness: complete inability to do anything to stop the train wreck. The risk manager’s moment arrives, of course, when things are going pear-shaped: the deal is collapsing, the client has announced plans to file for bankruptcy, or the markets are in freefall. Nothing to do but watch the whole thing go absolutely wrong.

Keywords: Central Banker; Hedge Fund; Home Equity; Credit Rating Agency; Walk Away (search for similar items in EconPapers)
Date: 2011
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DOI: 10.1057/9780230299177_1

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