Research Paper: Topic: Why did the traditional financial risk approaches, methods, and tools fail in the financial market meltdown of 2008 - 2009?
COURSE: FINANCIAL RISK MANAGEMENT
AT LEAST 650WORDS
KEY NOTES TO TUTORS
The text below is what one of your colleagues answered and i scored ZERO from my Lecture (Hi Hillary,This does not represent a research paper by any academic and professional standards. Redo). So please take note and write professionally.
Traditional financial risk approaches led to the financial market meltdown in 2008 -2009 that led to losses caused by failure to follow common risk management practices that is failure to have transactions verified by an independent authority, lack of setting limits to potential losses or failure to understand the risks to which the organisations were exposed to risks. In some cases, the managers and boards of directors were reluctant to question persons providing, or at least reporting, impressive profits in a new area of financial transactions, and also they were willing to provide these persons with authority without the required oversight. They feared that the normal level of oversight when exercised would in these area would drive an individual with unusual talent away from their company. This got them lured into risk areas they neither would have understood nor would have accepted.
The worldwide financial crisis of 2008-2009 put the focus on risk management and what its
failure could result to. The aforementioned financial crisis led to a situation where companies
This question was answered on: Oct 07, 2020
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