ABSTRACT
This chapter discusses a number of great risks, the most successful and less so decisions by major organizations in the face of significant uncertainty. The National Aeronautics and Space Administration (NASA) is modern history's preeminent risk taker. It has pioneered technologies and geographies, and literally does have the mission 'To boldly go where no man has gone before'. The real reason Enron failed everything, and not just risk management, was directed to managing and manipulating accounting earnings rather than creating and sustaining real economic value. The tale of Enron is a story of human weakness, of hubris and greed and rampant self-delusion; of ambition run amok; of a grand experiment in the deregulated world. The London office had increased its exposure by providing insurance to fringe activities such as Hollywood movies and football teams, and in high-risk fields such as aviation and pharmaceuticals. The London situation seemed to typify HIH.
