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The lessons Goldman Sachs hasn’t learned about one hundred-year storms

A link from Felix Salmon

Wall Street battered by a once-in a-hundred-years storm? It’s either the 2008 financial crisis or Hurricane Sandy, and in both cases, Goldman Sachs’ preparations offer pundits an easy analogy. When it comes to finance and floods, however, the problems are more complicated, and the solutions simpler, than they first appear.