Even Shakespeare knew about Reputation Risk..because he also had a lot to say about it:
“I am my reputation” (William Shakespeare, 1595)
“Reputation, reputation, O,I have lost my reputation! I have lost that immortal part of myself, and what remains is bestial! (Othello)
Reputation is an idle and most false imposition; oft got without merit, and lost without deserving.(Othello)
Robert Scoble was quoted by Fast Company saying that “Reputations are created and destroyed online in the speed of 140 characters.” He obviously referred to Twitter and the common phrase today that reputation can be created (Susan Boyle) and destroyed overnight (Bernie Madoff).
Some things change. Some stay the same. Reputation is that one asset you cannot afford to lose.