PALM DESERT, CALIF.-"The past 60, 90 days have been the craziest that risk managers have ever faced in their careers, in terms of the national debate over the U.S. debt ceiling, market volatility and a host of other key risks asset managers are now facing," said Joseph A. Carrier, chief risk officer at Legg Mason.

Which is helping put risk management and the work of chief risk officers at the forefront of fund management. Carrier made his remarks at the Investment Company Institute's Tax and Accounting Conference here last week.

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