How Math Ruined the Economy
A truly fascinating segment from Marketplace on NPR about how a flawed math formula may be one of the root causes to the current meltdown.
The real formula is probably more along the lines of (greed) ^ (stupidity) = OMG we R fux0red, but the one on Marketplace is pretty good too.
The real formula is probably more along the lines of (greed) ^ (stupidity) = OMG we R fux0red, but the one on Marketplace is pretty good too.
posted by Ryan at 3:48 PM
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Wall Street executives believed the financial wonks when they promised CDSs and CDOs were safe because they were insured. Not only did these executives not have a clue, they still don't.
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