The current financial crisis was caused by financial institutions themselves, not by their customers, Richard Kovacevich, MBA 67, chairman of Wells Fargo, told a Stanford audience. Financial institutions exhibited a total disregard for basic risk management fundamentals and even common sense. It was fueled by greed, lapses in ethical behavior, and was unchecked by the ratings agencies he told a gathering of business and academic leaders at the day-long program organized by the Stanford Institute for Economic Policy Research on March 13. SIEPR: http://siepr.stanford.edu