The Treasury could not do this (before TARP), while for the Fed such a guarantee would have exposed it to the full scope of losses embedded at Lehman — again, a nonstarter given the legal requirement that the Fed's financial exposure be collateralized.
"The scope of the loss is terrifying," said Sarah Carlberg, assistant director of a local book festival.
In the Kondakses' case, their public adjuster, Michael Palmiero of American Claims Adjusters in Brooklyn, said the scope of their loss had not been properly addressed by the insurance adjuster.
The theft of the data, the disclosure that Mr. Nicholson had not been notified by his subordinates for almost two weeks and confusion about the scope of the loss have caused the department to come under harsh criticism from veterans and on Capitol Hill.
State-of-the-art and fully probabilistic risk assessments require specific representations for their different components (mainly for hazard and vulnerability) in order to not only obtain the feasible scope of future losses but also to rigorously account for and propagate the uncertainties associated with any losses throughout the analysis process.
Only when outsiders took over did the public discover the full scope of the losses.
While Société Générale executives maintained that he had acted alone, many questioned how that was possible given the scope of the losses.
In recent weeks, as the scope of the losses mounted, Mr. O'Neal has fired a number of executives, the latest round of firings he has made since taking the top job.
Until the scope of these losses is known, many lenders are inclined to hang on to their dollars rather than risk them on loans to businesses in a weak economy, say economists and financial industry executives.
