[o_nate]

If you are a large bank, I don't think that the regulator will take kindly to the statement that you don't model your risk since Taleb says it's not possible. Perhaps a more moderate position would be not to put too much faith in models. Or as Derman writes: "Models are only models, toy-like descriptions of idealised worlds... If you listen to the models’ siren song for too long, you may end up on the rocks or in the whirlpool."