“Banks are so regulated compared with other companies that their boards have gone their own tack,” says Donald Jacobs, professor of banking at Northwestern University’s Kellogg School of Management in the US. He points out that big banks have long been competent in managing financial risk, partly because of the data that is both required of and available to them.
Question:
tack = sailing a zigzag course?
have gone their own tack = have their own ways of tackling problems?
Top answer
Hi, tack = sailing a zigzag course? Yes. 3 changes of direction would be 3 tacks.
— Clive
Hi, tack = sailing a zigzag course?
Yes.
3 changes of direction would be 3 tacks.
have gone their own tack = have their own ways of tackling problems?
More or less.
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tack = sailing a zigzag course? Yes. 3 changes of direction would be 3 tacks.
have gone their own tack = have their own ways of tackling problems? More or less. The meaning is they have followed courses of action, and used methods, that are unique to the banking industry.