IACPM is a non-profit industry association developed to Further the management of credit exposures by providing a forum for members to exchange ideas, foster research on credit portolio management, represent members before legislative and admistrative bodies...

Why was risk management not effective in preventing financial institutions from bubbles in the past? 1. Because the emerge of the bubbles were not recognized at all. 2. Because risk managers did not have sufficient authority to stop the nonsense....