(Solved): Legg Mason's senior management was concerned about the risk that portfolio managers were taking Ra ...

Legg Mason's senior management was concerned about the risk that portfolio managers were taking Rather than dictate changes in the portfolios, they gave each manager a risk budget. In this way, they a. used top-down controls to reduce risk. b. delegated the authority and dechions. c. avoided responalibility for risk dectivions.