Don’t blame bailouts for excessive risk taking, one researcher said May 29, 2014, during a daylong accounting conference at the University of Maryland’s Robert H. Smith School of Business. Research presented at the third annual Journal of Accounting and Public Policy Conference in College Park, Md., shows how the expectation of a safety net — which comes with strings attached — actually reins in shareholders and managers with limited liability.

Mortgage risk models are based on historical information and not equipped for today’s COVID-affected environment, meaning “a balance of art and science” is needed to manage these models.