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On the Road (1000+ posts) Send PM | Profile | Ignore | Fri Mar-20-09 06:08 PM Original message |
WIRED: The Secret Formula That Destroyed Wall Street |
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Gin (1000+ posts) Send PM | Profile | Ignore | Fri Mar-20-09 06:20 PM Response to Original message |
1. money was their drug of choice... and their habit did us all in! |
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On the Road (1000+ posts) Send PM | Profile | Ignore | Fri Mar-20-09 06:25 PM Response to Reply #1 |
2. Money is a Drug for a Lot of People |
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gratuitous (1000+ posts) Send PM | Profile | Ignore | Fri Mar-20-09 06:28 PM Response to Original message |
3. It's probably beyond my comprehension |
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On the Road (1000+ posts) Send PM | Profile | Ignore | Fri Mar-20-09 06:51 PM Response to Reply #3 |
5. That's a Pretty Good Account of It |
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NoodleyAppendage (1000+ posts) Send PM | Profile | Ignore | Fri Mar-20-09 06:32 PM Response to Original message |
4. The product of Li's formula is disaster. I guess one of the entry variables is GREEDY BASTARDS. n/t |
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WhiteTara (1000+ posts) Send PM | Profile | Ignore | Sat Mar-21-09 11:00 AM Response to Original message |
6. he ran like a rabbit to get out of the country |
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Dreamer Tatum (1000+ posts) Send PM | Profile | Ignore | Sat Mar-21-09 11:11 AM Response to Reply #6 |
7. Wait - someone who wrote a formula should be on trial? |
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HamdenRice (1000+ posts) Send PM | Profile | Ignore | Sat Mar-21-09 12:25 PM Response to Original message |
8. I had no idea it was this bad. If you can understand, this is the most important article yet ... |
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Odin2005 (1000+ posts) Send PM | Profile | Ignore | Sat Mar-21-09 12:43 PM Response to Reply #8 |
10. Yikes! Somebody send that Li fellow to a basic logical reasoning class. |
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HamdenRice (1000+ posts) Send PM | Profile | Ignore | Sat Mar-21-09 12:46 PM Response to Reply #10 |
11. I don't get it. How could anyone in a bank not have seen through this??? nt |
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originalpckelly (1000+ posts) Send PM | Profile | Ignore | Sat Mar-21-09 01:03 PM Response to Reply #11 |
14. I seem to remember that people are fallible. |
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originalpckelly (1000+ posts) Send PM | Profile | Ignore | Sat Mar-21-09 01:26 PM Response to Reply #14 |
16. You can't measure a system without disturbing it. The observer effect: |
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daleo (1000+ posts) Send PM | Profile | Ignore | Sat Mar-21-09 07:35 PM Response to Reply #14 |
27. Nice explanation. n/t |
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DLnyc (1000+ posts) Send PM | Profile | Ignore | Sat Mar-21-09 04:32 PM Response to Reply #11 |
20. I think the question should be "why didn't they WANT to see through it?" |
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KittyWampus (1000+ posts) Send PM | Profile | Ignore | Sat Mar-21-09 09:49 PM Response to Reply #11 |
33. some did. I remember Krugman writing about it. And apparently AIG had accountants rooting through |
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BlooInBloo (1000+ posts) Send PM | Profile | Ignore | Sat Mar-21-09 05:26 PM Response to Reply #10 |
24. Here's Li's paper - what Li ACTUALLY said. Kindly point SPECIFICALLY to his logical error... |
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originalpckelly (1000+ posts) Send PM | Profile | Ignore | Sat Mar-21-09 07:19 PM Response to Reply #24 |
26. Here: from page 10 |
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BlooInBloo (1000+ posts) Send PM | Profile | Ignore | Sat Mar-21-09 08:09 PM Response to Reply #26 |
28. "most of the other stuff in the paper is couched in terms of art"... |
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originalpckelly (1000+ posts) Send PM | Profile | Ignore | Sat Mar-21-09 09:18 PM Response to Reply #28 |
29. No, I'm terrible when it comes to numbers. |
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BlooInBloo (1000+ posts) Send PM | Profile | Ignore | Sat Mar-21-09 09:32 PM Response to Reply #29 |
30. I didn't respond because it was fucking stupid. |
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originalpckelly (1000+ posts) Send PM | Profile | Ignore | Sat Mar-21-09 09:36 PM Response to Reply #30 |
31. What? How is it fucking stupid to think prices don't always reflect the accurate value of something? |
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HamdenRice (1000+ posts) Send PM | Profile | Ignore | Sun Mar-22-09 07:10 AM Response to Reply #28 |
34. He's exactly right, Bloo. The math may be right, but the basic assumption is wrong |
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originalpckelly (1000+ posts) Send PM | Profile | Ignore | Sat Mar-21-09 12:50 PM Response to Reply #8 |
12. He made a feedback loop, like someone programming a computer. |
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sixmile (1000+ posts) Send PM | Profile | Ignore | Sat Mar-21-09 01:03 PM Response to Reply #8 |
13. In other words -Free Market Capitalism |
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originalpckelly (1000+ posts) Send PM | Profile | Ignore | Sat Mar-21-09 01:05 PM Response to Reply #13 |
15. This is an information problem. |
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DLnyc (1000+ posts) Send PM | Profile | Ignore | Sat Mar-21-09 04:19 PM Response to Reply #8 |
19. Very well said. You picked up on exactly the idea I had picked up on: |
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Dreamer Tatum (1000+ posts) Send PM | Profile | Ignore | Sat Mar-21-09 04:38 PM Response to Reply #8 |
22. Said yet differently |
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TahitiNut (1000+ posts) Send PM | Profile | Ignore | Sun Mar-22-09 07:22 AM Response to Reply #8 |
35. Shorter explanation: "Wall Street 'consults' its own navel." |
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originalpckelly (1000+ posts) Send PM | Profile | Ignore | Sat Mar-21-09 12:29 PM Response to Original message |
9. Capitalism is all about math and physics in the final analysis. |
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indypaul (896 posts) Send PM | Profile | Ignore | Sat Mar-21-09 02:39 PM Response to Reply #9 |
17. Or when one accepts it as their master and not their servant. n/t |
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JudyInTheHeartland (130 posts) Send PM | Profile | Ignore | Sat Mar-21-09 03:15 PM Response to Original message |
18. It's time to restore science to it's rightful place! |
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BlooInBloo (1000+ posts) Send PM | Profile | Ignore | Sat Mar-21-09 04:35 PM Response to Original message |
21. Despite what idiots say, it was the banks' POLICIES that failed, not the analysis... |
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DLnyc (1000+ posts) Send PM | Profile | Ignore | Sat Mar-21-09 05:03 PM Response to Reply #21 |
23. Could we say that the banks' policies failed when the regulatory system |
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spin (1000+ posts) Send PM | Profile | Ignore | Sat Mar-21-09 06:21 PM Response to Original message |
25. Murphy's Law applies to economics.... |
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NashVegas (1000+ posts) Send PM | Profile | Ignore | Sat Mar-21-09 09:43 PM Response to Original message |
32. The Problem With All Formulaic, Spreadsheet Strategies |
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indypaul (896 posts) Send PM | Profile | Ignore | Sun Mar-22-09 12:01 PM Response to Original message |
36. It's the same story as in 1929 |
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