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Feels analogous to the history of the collateralized debt obligation debacle where the models used to value CDOs were trained on data that no longer resembled r
by Dowwie 5y ago
Feels analogous to the history of the collateralized debt obligation debacle where the models used to value CDOs were trained on data that no longer resembled reality. At least Zillow can live to fight another day, where as Stan O'Neal put all of Merrill Lynch's chips in with one of the biggest make-or-break gambles in the history of finance and the market turned against it, rendering Merrill to a fatally wounded company bailed out by Bank of America.