Crisis Wasted? Leading Risk Managers on Risk Culture

Further Reading

In researching this book, we came across material that readers may find as interesting and thought-provoking as we did. Here is a sample of what we consider the best, in alphabetical order by author:

• Ahamed, L., Lords of Finance: The Bankers who Broke the World (New York: Penguin, 2009).

  This New York Times Best Seller is a must-read for anyone interested in the history of financial crises. It recounts the events and circumstances leading up to the Wall Street Crash of 1929 and subsequent Great Depression. Readers may find the parallels with the Global Financial Crisis of 2007–08 to be eerie.

  He tells the story of 1929 from the perspective of the central bankers concerned: Britain, the US, France and Germany. This makes the book especially readable for non-financial readers. It also makes it a page-turner.

  Follow this link to see a 50-minute video of a talk he gave to the CFA Annual Conference on 8 May 2011: http://vimeo.com/27874662.

• Ailon, G., The Discursive Management of Financial Risks Scandals: The Case of Wall Street Journal Commentaries on LTCM and Enron, Qualitative Sociology (2012) 35: 251–270.

  This paper explores the influence on popular perceptions of financial crises and scandals of reporting in the medium of print. Citing 25 articles in the Wall Street Journal from 1998 to 2002 about the Long-Term Capital Management and Enron collapses, it finds a popular tendency to moralise about the outcomes, rather than any real attempt to understand the causes. ...