Chapter 1. The Rise of Governance
by Jacob Lamm
Rumblings deep in the world economy drew little attention in 2006. Interest rates rose modestly and housing prices stopped their steep ascent in the United States, signaling an economic swing that financial institutions normally handle in stride.
However, this time conditions were different. Proven techniques for dealing with economic swings couldn't handle the events that were to unfold at lightning speed. The United States housing bubble finally burst in 2008—creating the most serious financial crisis since the Great Depression.
The house of cards tumbled, taking with it several cornerstone financial institutions. Certain corporate leaders were stunned and wondered how such strong organizations ...
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