Pre Crew Resource Management

Jan U. Hagen

Chapter Part I in Confronting Mistakes, 2013, pp 1-75 from Palgrave Macmillan

Abstract: Abstract The crisis on the financial markets began to unfold with increasing severity starting in 2007. Many were left dumbfounded that big-name banks had taken such disproportionately high risks with their structured securities. People saw the remuneration system in the investment banking sector, enormous bonus payouts, and the associated asymmetric risk distribution as the main causes of the crisis. They started asking how things could have spiraled so far out of control. Yet even before the crisis, some parties within the banks had urged caution. The question is why these warnings went unheard. Were they overlooked? Underestimated? What mistakes were made, how did they come about, who failed to pick up on them, and how were they allowed to trigger a series of further errors that ultimately culminated in such dramatic consequences?

Keywords: Crew Member; Landing Gear; Flight Attendant; Flight Crew; Crew Resource Management (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-27618-6_1

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DOI: 10.1057/9781137276186_1

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