Posted on December 6, 2013 by

A collective failure of imagination

The failure to foresee the timing, extent and severity of the crisis and to head it off, while it had many causes, was principally a failure of the collective imagination of many bright people, both in this country and internationally,to understand the risks to the system as a whole. The British Academy on the causes of the Credit Crunch

Extract from the Risk-Based Performance Management book.