Jack Reed actually said...

the fact that they did not have systems in place to adequately assess the risk, which I think is a fair conclusion of the report of the GAO.

Having listened to that, it is, I think, very insightful, and it seems to be a great approach.

The trillions of dollars in losses stand as witness to the many failures of risk management at these firms.

This financial crisis has demonstrated that, contrary to the presumption of many, financial institutions were unprepared and in many cases i...