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What did they shift to? Also how does better data infra make for better crisis response for a bank? I can’t see how it would make a huge difference..... unles
by intended 8y ago
What did they shift to?
Also how does better data infra make for better crisis response for a bank?
I can’t see how it would make a huge difference..... unless of course it means that the reporting structure is giving critical information to decision makers which it wasn’t before.
- village-idiot 8y agoAssuming that they want to know what’s actually on their books. Given the moral hazard of bailouts sans consequences, there’s a lot of incentive to look away while the traders do shady shit during the good years and then plead ignorance before congress while asking for a bailout.
- tomrod 8y agoAs an economist I understand this issue 100%. But I rarely see the shady/seedy items in practice. Morale really sucks in places where illegitimate moves happen. And devs aren't idiots, they speak up and even whistle blow if something looks off. My experience in this world is that folks at the top and supporting roles want to operate in good faith.
- tomrod 8y agoYou nailed it.
- intended 8y agoOk, was it as rough as I envision ? Poor reporting (possible neglect) for mission critical information until you guys came along? How good/bad was it before the upgrade? (Did you have to start from scratch and pry excel out of everyone's hands?)
- tomrod 8y agoSort of a mix. Some areas were better than others. Anything going externally is way more controlled. We executed on tech visions people held hope for a long time.