Losses and lawsuits
A regular review of the losses and problems caused for financial firms falling foul of fraud, management failure, human error and other operational hazards as recorded in the IC2 First Loss Database
Did op risk sink Enron?
Did operational risk cause the largest bankruptcy in US history when energy trading firm Enron filed for Chapter 11 protection against its creditors in early December?
The Enron case is complex and the evidence incomplete. The company’s fall from grace as a much-vaunted $63
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