A golden lesson from the 2008 financial crisis

Ten years ago on Sept. 15, the financial firm Lehman Brothers filed for bankruptcy, triggering the worst global recession in decades. Largely unnoticed on this 10th anniversary, however, is the fact that it also awakened an improved culture of prudence in many financial firms as well as other companies. While financial crises are hardly new, the job of “risk manager” was invented only about two decades ago.

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