Jack Reed actually said...

The governance structures, the firm managers, and sophisticated models all failed to capture the magnitude of the risks that were building.

Blame must primarily be placed at the feet of these financial institutions which gambled and then cashed in on exorbitant transaction fees f...

But there is another way sort of to get the message across to the marketplace, and that is enforcement action.

You know, where was the risk assessment at the enterprise, as you described it?