“Financial and commercial crises, or ‘panics,’…with their attendant misfortunes and prostrations, seem to be mathematically impossible.”
–U.S. Comptroller of the Currency (in 1914 after the Federal Reserve Act was signed into law)
The Federal Reserve was the answer. The economic panacea to end all recessions and bank failures. Then came the Great Depression.
Other crises and recessions would occur. In those moments, we’d remember, change a few laws, and promptly forget again.
Here’s a 2006 article about why banks no longer fail. “Why Don’t Banks Fail Anymore?”
In 2008, 25 banks would fail in the Great Recession, followed by 440 others from 2009-2012. Wikipedia Source
In your organization, where is failure impossible?
What’s been overlooked because it’s “safe”?
What process was dangerous and now “hazard-free”?
Is it worth another look?