Goldman’s Cohn Says Firms Burned by Poor Controls, Not Products
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Goldman Sachs Group Inc. President Gary Cohn said poor risk-management, not sophisticated products, is to blame for financial-company losses and failures.
“If you don’t invest in risk-management, it doesn’t matter what business you’re in, it’s a risky business,” Cohn said today at a panel discussion in Washington sponsored by the Institute of International Finance.