Lloyds Lacking Risk Controls? Weisel's Armstrong Ties Questioned, and More News of the Week
Lloyds Bank, following a few systems failures in 2012, is facing accusations from a former executive that risk controls are lacking, while Thomas Weisel is under scrutiny for ties to Lance Armstrong, HSBC can't get away from its money laundering settlement and "genius" trader risk top this weeks chatter in the press and on Twitter.
January 18, 2013
3. Too Smart For Your Own Good
A 'genius' can blow up the bank just as much as a 'rogue' can. In that case it behooves risk managers across all disciplines to spend as much time and effort on identifying and addressing the risk of the genius as that of the rogue.
— Andrew Waxman, contributing editor, Advanced Trading