Managing risk in industries on the edge: a look at oil, Wall Street, and NASA

The World

The oil industry, Wall Street, and NASA all have this in common: very smart people have the freedom to take huge risks ?- and those same very smart people are the only ones who can fix it when things go wrong.

Robert Kuttner, co-founder and co-editor of The American Prospect, sees a systemic problem of risk management behind both the economic collapse and the oil spill. Lane Wallace is a pilot who has written several books for NASA, and says NASA could teach both Wall Street and the oil industry a few things about managing uncertainty.

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