By Anne Friberg
Treasurers devise best practices in the wake of the crisis.
The financial crisis undermined many risk management assumptions. Indeed, Alan Greenspan admitted he was in “a state of shocked disbelief” when the intellectual edifice of the discipline—the belief that self-interest would rein in risk-taking—collapsed in the summer of 2007. He was referring to the carnage at banks, of course. By contrast—and especially in their foreign exchange programs—companies suffered much less.