Over the last decade, millions of American’s experienced the joy of not only owning a home, but the desperation that comes along with losing a home, as well.  Losing a home in the middle of a recession dealt millions of Americans the pain of not only being homeless but also jobless. This moral demise affected the majority of our American families and will continue to effect our younger generation, as we attempt to right the ship.  Learn the lesson.

What happened to the American Dream and better yet, who is responsible for its demise?! With so many risk controls supposedly in place from traditional Risk Management companies, how could this happen?  In a society so flush with large companies and their associated corporate managed checks and balances; how could this happen?  Large companies with professionals in suits and ties who promised the American consumer trust and integrity, how could this happen?  If you reap the rewards of quick hit profits and have no accountability, it will eventually catch up with you, no matter whom you are or how big you are.  There are lessons to be learned from every life experience and the mortgage meltdown is no exception.  Learn the lesson.

RIM’s President experienced the red tape of working for one of the largest companies in the world, first hand. Our RIM President saw first hand that the mortgage paper obtained in sub-prime lending was either fraudulent or non-existent and reported this to executive management on Wall Street.  While everyone was flying at 20,000 ft and counting their corporate profits, standard risk controls were failing at every level. Accountability standards we not applied, and those who engaged in unscrupulous business practices were allowed to prevail and walk away with large sums of cash. Millions of American families were left holding property that was either over-valued, or in mortgages that they could not afford.  Learn the lesson.

Many mortgage and financial executives did not want to acknowledge that their risk controls had failed. The big corporate dogs had experienced first hand that even the most successful of American companies internal risk controls can fail or be over looked.  One of the glaring lessons learned that resulted from the mortgage melt down is that risk management approaches can no longer fly above the ground at 20,000 feet.  We realized the importance of understanding what is happening on the front line, and at ground level. We must also have the fortitude in the middle and upper ranks to shake the bushes even when no one else cares to listen. Risk management has an ethical obligation to maintain its “Risk Integrity”:  Never compromising truth in order to gain financially.  Learn the lesson.