normal lives. That doesn't mean that we are not changed by the tragedy. We will be forever appalled by the atrocity and humbled by how solidly our

institutions and citizens met the challenge.

The World Trade Center attacks targeted the U.S. financial system, and yet

many companies managed to operate. Indeed, one lesson we drew from our examination of the financial aftermath is that, in this age of the supposed

supremacy of capital markets over banks, it was our bankers–helped, no doubt, by the Fed–who kept the financial and commercial systems running.

(see page 9). Our security was also a fragile commodity in the fall of 1991 as Treasury & Risk Management published its very first issue. America may

have been basking in its victory in the Persian Gulf, but our banking system was reeling from bad loans, and the economy was at a nadir. American

companies were frantically restructuring and corporate treasurers, armed with new

finance and risk management tools, were leading the effort.

In our premiere issue, we charted risk in the banking system and benchmarked

your salary against your peers. Over the years, we were among the first to report on cash balance pension plans and enterprise risk management. And we

have set the standard for excellence with our surveys in cash management and derivatives (see page 49) and Alexander Hamilton Awards for Excellence in

Treasury Management.

T&RM has always tried to provide a platform for the community of CFOs,

treasurers and other financial executives. Most of all, we've tried to tell you

what to expect tomorrow, next month and next year.

To mark 10, we've asked some of the leading figures in finance to help us look

into the next decade (see page 26). Looking forward into the future is always challenging, even without grit and haze to contend with. But while we have

changed as people, our mission to define the future of finance has not.