AIG, a space shuttle disaster, and creeping risk
Listening to all the fully justified outrage about bonuses getting paid to the employees of AIG who took all the risky bets reminds me of the recriminations and second-guessing after the two space shuttle disasters.
Undoubtedly, if Edward Tufte put his mind to it, he could come up with a fascinating graphic about the data leading up to the collapse of AIG, as he did with the launch decision for the ill-fated space shuttle Challenger. But in the meantime, here are some thoughts based on the extremely thorough and interesting 566-page book, "The Challenger Launch Decision," which I … Read more