Showing posts with label bonds. Show all posts
Showing posts with label bonds. Show all posts

Wednesday, April 8, 2009

It always starts with the dorks

(thanks to The Economist)

Dynamite, chemical weapons, the a-bomb, and then nuclear weapons. Eventually, in the future, of course, there will be the Terminator.

But for now, it's the computer-science geeks that applied math models and game theory, to peddle purposely complex, over-valued bonds made up of crappy mortgages. Thanks, smart guys.