Word: globe
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Banks also learned lessons from the 1997-98 financial crisis, which was partly caused by weak risk management. Lenders haphazardly tossed money at conglomerates for questionable industrial projects and property investments, and they chased high-yield, high-risk investments around the globe. But they paid the price in bank and finance company failures. In August 1997 Thailand closed 42 finance companies, Indonesia closed 16 banks two months later, and South Korea closed 14 merchant banks in December 1997, according to Merrill Lynch. Others were sold or merged. Those that survived cleaned up their act. Credit analysts are more thoroughly trained...
...from just 19 in 1995. And the number of U.S. business schools offering a concentration in risk management nearly doubled between 2005 and 2007, according to the Association to Advance Collegiate Schools of Business, while degrees in risk management are increasingly being offered at business schools around the globe...
...first in a series of events leading to Fischer’s resignation this summer. Some hospital executives discovered that Fischer had given surgery department funds to his wife, who organized department events, helped new surgeons find homes, and showed their families around Boston, according to The Boston Globe. The funds—$12,000 a year in all—were later returned...
...Levy told The Globe in an interview in July that he asked for Fischer’s resignation because his management style was no longer appropriate for the hospital...
...Fischer made very important contributions to this hospital, but over time it became clear that his approach to managing the department was not consistent with our current direction and emphasis,” Levy told The Globe...