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A year ago, it was hardly unthinkable that a math wizard like David X. Li might someday earn a Nobel Prize. After all, financial economistseven Wall...
Watch the video clip Great Recession. （Here is the link of the video: https://youtu.be/yYBMtOeWCJA )
And read an article titled "The Formula" which explains the broken equation that is referenced in the video clip.
(1) Evaluate the risk and crisis management decisions depicted in the case.
(2) In your informed opinion, are market failures good, bad or neutral events? Why?
（3）Given a level of complexity, over time, we will observe a given number of ‘normal’ risk events. If we add safeguards to try to reduce these risk events we increase complexity. Should markets and financial institutions operate at their current level of complexity, or should we increase their resilient to failures?
