Away Quote by Andrew Lo
“If troubled companies want to explain away 2008 as a 'black swan,' then someone should take responsibility for creating the oil slick that seems to have tarred the entire flock!”
About This Quote
Source Speech: Financial Crisis Commentary, 2009
Blaming external shocks ignores internal responsibility for systemic failures.
In simple terms: Avoid scapegoating; own your role.
Recognize and address root causes.
Themes
Mood
Type
When to use this quote
- corporate governance
- risk management
- policy reform
Key Concepts
Questions to Reflect On
- Who in your organization can own the problem?
- What systemic changes can prevent recurrence?
Oversimplifying complex events can hinder learning.