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This chapter analyses the opening phases of the Project Taurus story, focusing on how and why organizations become involved in decision debacles in the first place. According to the social-psychological theory, escalation begins with bright but illusory prospects. Then, once a decision takes shape, psychological and social pressures induce persistence. Proponents of decision dilemma theory basically suggest the opposite. This chapter examines the London Stock Exchange's (LSE) persistence with Project Taurus following the collapse of the initial proposal to build a central register design known as Taurus 1. The actions of players other than the ‘decision-maker’, mainly the Siscot Committee and the wider securities industry, are considered. This chapter suggests that escalation is most probable when those with most power to influence a decision have least responsibility for its outcome. This category is defined as the market overshadowed by the Group of Thirty and the Bank of England, followed by Siscot, and lastly the technical team.
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