Bill Dedman Quotes

In New York, FEMA granted the Mamaroneck Beach & Yacht Club's request to be remapped from the high-risk flood zone in August 2012 - just two months before the club was damaged and its outbuildings destroyed by Hurricane Sandy, which stacked up yachts at its docks like pick-up sticks.

FEMA says that it does not factor in previous losses into its decisions on applications to redraw the flood zones.

A property in the 100-year floodplain has a 96 percent chance of being flooded in the next hundred years without global warming. The fact that several years go by without a flood does not change that probability.

NBC News found that FEMA has redrawn maps even for properties that have repeatedly filed claims for flood losses from previous storms. At least some of the properties are on the secret 'repetitive loss list' that FEMA sends to communities to alert them to problem properties.

Having just one insurance provider for all flood risk in the entire country makes no sense.

Whatever solutions there are for flood control need to be bipartisan.

I think the federal flood insurance program is actuarially unsound and renders private insurance not viable, thereby needing an overhaul going forward.

In the world of cyber security, the last thing you want is to have a target painted on you.

I know many members of our community steer clear of Wall Street because of the perception that the stock market is risky, but I am convinced the biggest risk of all is not taking one.

Not taking a risk is a risk. That's how I see it.

As an adventurer...I try to protect against the downside. I make sure I have covered as many eventualities as I can. In the end, you have to take calculated risks; otherwise you're going to sit in mothballs all day and do nothing.

One doesn't accept bad challenges. Part of it is always the risk-taking without seeing that the risks are rational and the rewards are commensurate.. are more than commensurate.. with the risks.

And then at the end of the day, the most important thing is how good are you at risk control. Ninety-percent of any great trader is going to be the risk control.

The cost of assessing risk is now often greater than the cost of failing.

There is a close logical connection between the concept of a safety margin and the principle of diversification.

I'm a risk manager, but I'm also a risk taker.

By definition, risk-takers often fail. So do morons. In practice it's difficult to sort them out.

Do we pour $40 billion into grandiose Louisiana engineering projects or do we instead put up no trespassing- signs in the areas below sea level? All are hard choices with various merits and pains. The important thing, however, is for America to decide whether the current policy of inaction is really the way we want to deal with the worst natural disaster in our history.

There is the risk you cannot afford to take, and there is the risk you cannot afford not to take.

Risk is the price you pay for opportunity.

Risk always looks different when you're beating the system than when you've been beaten.

Essentially, not only do we believe in this myth of 'de-risking', but it has become the one overriding goal; de-risking above growth, de-risking above innovation, de-risking above everything else. And we've reached the point where the Fed is using $70 Billion a month to 'de-risk' a largely insolvent banking system. And this can only end badly. The idea that you can do capitalism without risk is ridiculous on its face.

Indeed, better risk management may be the only truly necessary element of success in banking.

Risk managers and investment bankers and actually, all kinds of investors took on more risk than they expected. So there was a failure of risk management. There was a failure to recognize how much risk there was in some of these securities that people bought.

It's important to take risks.