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The first issue of The Deal weekly in 2008, which was posted on TheDeal.com today and will be mailed to subscribers this weekend, focuses on risk, a subject of some currency right now. The main story, by Vipal Monga, tackles the pressing question: How did the banks, which were supposed to be as iceberg-proof as, well, the Titanic, get into this mess?
The answer involves long-term changes in banking practices and the rise of a host of new, complex products. What may be most interesting in Monga's story, however, is the debate he discerns between two former Federal Reserve chairmen - Paul Volcker and Alan Greenspan - over where the real dangers in the system lurk. The package also includes a short guide to books on risk management, a look at Congress' reaction to the crisis and a fascinating discussion by David Marcus on a new revisionist history of Holland's Tulip mania in the 17th century. Conclusion: Tulips and mortgages have a lot in common. - Robert Teitelman
See Deal Newsweekly story on Risk See Deal Newsweekly story on Risk reading See Deal Newsweekly story on Congress' reaction See Deal Newsweekly story on Tulip mania Categories Deal Video
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