Buffett shows bank CEOs how they should manage risk

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offers several lessons to CEOs of companies and one of them is that they need to be chief risk officers of their institutions in order to avoid crisis.

much has been done about Lack of a Chief Risk Officer

(ticker ) for much of the past year and the bank's mismanaged investments in Treasuries and mortgage securities. Losses on 's bond portfolio, including $15 billion on the largest group of securities holdings, helped ruin the bank.

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