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Carnegie New Leaders

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Move Over, Black Swan: Here Comes the Gray Rhino | 06/14/16
Michele Wucker
While the sheer size of the 2008 financial crisis may have been an unforeseeable "black swan," the market speculation and imbalances behind it were not. Each of the underlying causes--the housing bubble, problems with credit default swaps, and poor risk management--was a highly obvious threat: that is, a "gray rhino." Why do policy and business leaders consistently fail to deal with imminent crises in time to prevent widespread damage? (Carnegie New Leaders)

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