But in Somalia this pact is rather stronger: an individual who flouts the system risks jeopardising trust in both himself and his clan.
With all these caveats, I believe that an increased focus on system-wide risks by regulators and supervisors is inevitable and desirable.
Hence the wider crisis for France's political system: it risks becoming irrelevant.
For years, our financial sector was governed by antiquated and poorly enforced rules that allowed some to game the system and take risks that endangered the entire economy.
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From now on it will take a lead role in co-ordinating and monitoring tougher financial regulations and serve (along with the IMF) as an early-warning system for emerging risks.
The extent of the damage is only beginning to come to the surface, but one thing is for sure: by the time all the dust settles, Americans will have a very different view about our financial system and the risks associated with excessive credit.
"In this era of mobile banking, use of counterfeit devices, which are manufactured without due consideration to the recognised security standards, may expose our mobile money systems as well as the wider banking and financial system to unnecessary risks, " said the communications secretary Dr Bitange Ndemo.
Modern governments, as long as they're assuming the risks of the financial system, find it convenient to have those risks concentrated in a few very large, very handy institutions.
Most importantly, service providers typically do not accept the risks of system breaches or data losses that a cloud can pose.
In the aftermath of the 2008 crisis, however, globalization is at risk of reversing and regressing back to multinationalization, an inefficient fragmented and moribund system that raises the risks of cross-border transactions.
One under-reported but highly significant aspect of the whole extraordinary incident is that Mr Dimon announced that he was abandoning a new financial system for monitoring the risks run by the Chief Investment Office and reverting to the old one - because the new model was chronically understating the potential losses the bank could have generated on any given day.
The IMF recommended Beijing consider a new round of stimulus through the budget rather than the financial system, since the large credit stimulus in 2009 and 2010 has increased risks to the banking system.
The SEC noted that Illinois used accounting that funds a larger percentage of an employee's pension costs near the end of his career, a method that increases the risks that the system could go bust.
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We've got an education system unsuited for a global era, and a financial system that has been rewarding reckless risks.
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Rather, their task is to determine the risks imposed on the system as a whole if common exposures significantly increase the correlation of returns across institutions.
The fund suggests the low volatility of recent years may be owing to greater economic stability, improved central-bank credibility or the better dispersion of risks around the financial system.
To curb risks to the financial system, Mr Dodd would create a Financial Stability Oversight Council composed of regulatory chiefs who can designate any big financial firm as systemically important.
We now have a financial system that allows bankers to take risks and keep the profits but requires taxpayers to cover their losses and encourages bankers to take bigger and bigger risks.
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Ninety-four percent of capital markets executives who participated in a recent Sybase survey in London said they were not particularly confident that stress testing had addressed the important risks to the banking system.
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Since George Osborne has set up the FPC with independent authority to minimise the risks in the financial system, he would not find it easy to over-rule or ignore it on the first occasion it makes a big decision.
The proposal, which aims to slow the pace at which permits to emit CO2 are sold on the Emissions Trading System between 2013 and 2020, risks having only limited effect if it isn't followed by permanent measures, analysts say.
First, so that the whole of the worldwide banking system serves our prosperity rather than risks it, let us agree rules and standards for accountability, transparency, and reward that will mean an end to the excesses and will apply to every bank, everywhere, and all the time.
If confirmed, Mr. Lew will chair the Financial Stability Oversight Council, responsible for identifying and addressing "systemic risks" to the financial system.
The October 2012 Global Financial Stability Report (GFSR) finds increased risks to the global financial system, with the euro-zone crisis the principal source of concern.
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Max Weber wrote of the imperative of "calculability" in a legal system, the need to ensure that risks can be identified and addressed with reasonable predictability.
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For those that argue that the playoff system puts student-athletes at physical risks or impedes their academic progress because of increased playing time, this plan only adds 1 more game for 4 teams and 2 games for the national finalists.
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Mr Carney insisted that central banks couldn't get rid of all the "tail risks" still lurking inside the system.
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And there may be other risks to going after the immune system.
That is what Mr Draghi meant when he talked of the OMT programme as backstop against the "tail risks" hanging over the euro system - the extreme scenarios, like the whole thing blowing apart.
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