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Recipes for Ruin, in the Gulf or on Wall Street
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Prof Richard Thaler of the Booth School of Business at the University of Chicago, sees an acute underestimation of risk as a common element in recurring crises- both the crises of a financial type and the crises like the one in the BP Gulf Oil Spill. Tony Hayward, CEO of BP said that BP had perceived the risk of such a spill as one in a million.
Insights into Crisis Prevention- from the 2008 financial crisis to the BP Oil Spill and Fukushima nuclear disaster
01/02/2009
Grouped Articles
Recipes for Ruin, in the Gulf or on Wall Street
New York Times 06/11/2010
Chinese Walls, Pocked With Peepholes
New York Times 06/11/2010
The Oil Disaster Is About Human, Not System, Failure
Wall Street Journal 06/11/2010
Oil Executives Try to Explain Differences From BP
New York Times 06/15/2010
Mr. Rajan Was Unpopular (But Prescient) at Greenspan Party
Wall Street Journal 01/02/2009
Report of the Commission on the BP Deepwater Horizon rig Gulf oil spill
06/05/2010
Grouped Articles
In Gulf, It Was Unclear Who Was in Charge of Rig
New York Times 06/05/2010
Recipes for Ruin, in the Gulf or on Wall Street
New York Times 06/11/2010
Chinese Walls, Pocked With Peepholes
New York Times 06/11/2010
Oil Executives Try to Explain Differences From BP
New York Times 06/15/2010
At BP, a History of Boldness and Costly Blunders
New York Times 07/12/2010
Oil Rigs’ Biggest Risk: Human Error
Wall Street Journal 04/20/2015
Views on the BP Oil Spill.
06/05/2010
What happened, why and how something like this can be prevented in the future.
Grouped Articles
In Gulf, It Was Unclear Who Was in Charge of Rig
New York Times 06/05/2010
The Oil Disaster Is About Human, Not System, Failure
Wall Street Journal 06/11/2010
Recipes for Ruin, in the Gulf or on Wall Street
New York Times 06/11/2010
Chinese Walls, Pocked With Peepholes
New York Times 06/11/2010
Nine Questions (and Provisional Answers) About the Spill
BusinessWeek 06/10/2010
Oil Executives Try to Explain Differences From BP
New York Times 06/15/2010
2008 subprime mortgage securities financial crisis
08/05/2007
Financial crisis from the widespread distribution of securities created from pools of subprime mortgages in the portfolios of finacil institutions around the globe. How credit rating agencies helped create the crisis by giving A ratings to these securities which were then widely distributed as credit worthy.
Grouped Articles
BusinessWeek 04/01/2010
A Toxic Subprime Mortgage Bond's Legacy Lives On
Wall Street Journal 09/13/2013
Recipes for Ruin, in the Gulf or on Wall Street
New York Times 06/11/2010
S. & P. E-Mails on Mortgage Crisis Show Alarm and Gallows Humor
New York Times 02/05/2013
S&P to Pay $1.5 Billion to Resolve Crisis-Era Litigation
Wall Street Journal 02/04/2015
Wall Street Journal 02/27/2008
JP Morgan Chase, Toyota and BP- huge risks for modest gains in offsetting losses or costcutting
06/11/2010
A comparison of three corporations and their failure to recognize risks generated from culture, strategy and complacency of top management. The situation that prevailed in different industries and cultures in 2010-2012- in the UK-U.S., in the UK, and in Japan, for the financial industry, oil industry and auto industry. Also relevant is the evolution of technologies and complexity and how carefully it is managed throughout the chain including suppliers or locations in other countries. Complex automotive technologies and complex deep sea exploration technology, the involvement of suppliers, and the complex financial market credit default swaps, needed a careful approach from top managment not relying on individuals alone.
Grouped Articles
Wall Street Journal 05/04/2013
Regulatory Headaches Worsen for J.P. Morgan
Wall Street Journal 08/19/2013
Embattled J.P. Morgan Bulks Up Oversight
Wall Street Journal 09/13/2013
JP Morgan Reported Third Quarter Loss on Legal Costs
New York Times 10/11/2013
Record Pact Is on the Table, But J.P. Morgan Faces Fight
Wall Street Journal 10/21/2013
Recipes for Ruin, in the Gulf or on Wall Street
New York Times 06/11/2010
Views on the U.S. Financial Crisis.
06/03/2010
What happened and why, and how to prevent such crises in the future.
Grouped Articles
Recipes for Ruin, in the Gulf or on Wall Street
New York Times 06/11/2010
Chinese Walls, Pocked With Peepholes
New York Times 06/11/2010
A High-Five for the Invisible Hand
New York Times 06/03/2010
Financial Crisis Was Avoidable, Inquiry Concludes
New York Times 01/25/2011
Long-term understanding of the U.S. economic crisis - The Washington Post
Washington Post 03/19/2012
Crisis Prevention Insights from the 2008 financial crisis to the BP oil spill and Fukushima- Chinese walls that don't work and underestimation of risk
06/11/2010
Linked Articles
Chinese Walls, Pocked With Peepholes
New York Times 06/11/2010
Recipes for Ruin, in the Gulf or on Wall Street
New York Times 06/11/2010
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