Understanding and Responding to Risk

See http://www.ft.com/cms/s/0/e3b34b9c-a9c0-11dd-958b-000077b07658.html?nclick_check=1

Stefan Stern notes in yesterday's Financial Times talks about a pragmatic approach to risk management in light of recent failures in Risk Management in the financial industry, BBC Radio 2, and others.

"Understanding risk, and responding properly to it, requires maturity, and sobriety. We had forgotten this. Some had never really grasped it in the first place."