The Fifth Risk

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By Michael Lewis ’82

Published Oct. 17, 2018

 New York Times bestselling author Michael Lewis delves into the chaos within American bureaucracy during the period following the 2016 election in his new book The Fifth Risk (W.W. Norton & Co). Describing a government attacked by its own leaders, The Fifth Risk takes readers behind the scenes to a looming crisis, where unsung heroes attempt to keep the machinery running, despite slashed budgets and staff, discarded briefing books, and willfully ignorant appointees. 

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PAW's July/August 2025 issue cover, featuring a photo of people dressed in orange and black, marching in the P-rade, and the headline: Reunions, Back in Orange & Black.
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July 2025

On the cover: Wilton Virgo ’00 and his classmates celebrate during the P-rade.