You only find out who is swimming naked when the tide goes out.

-- Warren Buffet, chairman of Berkshire Hathaway

In Warren Buffet's parlance, the financial tide is now well out, revealing a plethora of companies that decided to go skinny-dipping. One reason for so many companies' nudity in the current financial climate has been the massive failure in enterprise decision making with regard to risk, unintentional as well as intentional. A few vignettes illustrate the magnitude and depth of this failure.