Black Swan Events: Hurricane Katrina In New Orleans

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Black Swan Events are unplanned events that has a huge impact, these events can be environmental or financial events that are unpredictable or unexplainable.
There are several black swan events, but the one that stands out is Hurricane Katrina which occurred in New Orleans, Louisiana on 28-29 August 2005. “It was assumed that New Orleans was secure because of levees built to sustain a Category Three hurricane. According to Lt. Gen. Carl Strock, chief of engineers for the Corps of Army Engineers, “We were just caught by a storm whose intensity exceeded the protection that we had in place.” (http://www.khouse.org/articles/2011/1008/)
All government officials should meet to create a Risk Management process that can help discover this situation.

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