The mistake...was attributed in part to the fact that employees called the 3-year note 'Losh' and the 5-year note 'Bosh'. The comic mixing of 'Loshes' and 'Boshes' sounded more like a Dr. Seuss children's book than a cutting-edge risk-management operation.

Once we have a sense of how long a decision should take, we generally should delay the moment of decision until the last possible instant. If we have an hour, we should wait 59 minutes before responding. If we have a year, we should wait 364 days. Even if we have just half a second, we should wait as long as we possibly can ... Life might be a race against time but it is enriched when we rise above our instincts and stop the clock to process and understand what we are doing and why. A wise decision requires reflection, and reflection requires a pause.

The mistake...was attributed in part to the fact that employees called the 3-year note 'Losh' and the 5-year note 'Bosh'. The comic mixing of 'Loshes' and 'Boshes' sounded more like a Dr. Seuss children's book than a cutting-edge risk-management operation.