Myron Scholes quoteMyron Scholes [1941-0]
Canadian Economist 
Quote rank: 106
| Most of the time, your risk management works. With a systemic event such as the recent shocks following the collapse of Lehman Brothers, obviously the risk-management system of any one bank appears, after the fact, to be incomplete. We ended up where banks couldn't liquidate their risk, and the system tended to freeze up. |
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