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I’ll say it. When Black Shoals won the Nobel prize and business people started seeing PDEs, the new physics and applied math grads they hired were five years aw
by ttyprintk 4y ago
I’ll say it. When Black Shoals won the Nobel prize and business people started seeing PDEs, the new physics and applied math grads they hired were five years away from restructuring mortgages into unsupportable securities. Very few were smart enough to predict the eventual problem. Maybe the only people who can justify the inflated compensation should be those who can prevent collapse?
- deleted 4y ago[deleted]
- throwaway5959 4y agoSome of the products didn’t pan out, sure. But what about all the products that did? Having deep and complex capital markets opens up a lot of possibilities in terms of building huge systems.
- ttyprintk 4y agoJust the bailouts equated $229,000 for each of 6.5m Americans in finance. Just the drop in the stock market equated to the earnings of 75,000 quants averaging $7,800 per day for 45 years.