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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!” quote by Andrew Lo
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“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!”

Andrew Lo

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.

Key Takeaway

Recognize and address root causes.

Themes

accountability systemic risk leadership

Mood

critical reflective

Type

analytical cautionary

When to use this quote

  • corporate governance
  • risk management
  • policy reform

Key Concepts

financial crisis responsibility blame shifting

Questions to Reflect On

  • Who in your organization can own the problem?
  • What systemic changes can prevent recurrence?
A Different Perspective

Oversimplifying complex events can hinder learning.

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