How Wall Street Lied To Its Computers Image courtesy of
The people who ran the financial firms chose to program their risk-management systems with over-optimistic assumptions and to feed them oversimplified data.
QFT:
The people who ran the financial firms chose to program their risk-management systems with over-optimistic assumptions and to feed them oversimplified data.
“There was a willful designing of the systems to measure the risks in a certain way that would not necessarily pick up all the right risks.”
“How Wall Street Lied To Its Computers” [NYT Bits Blog via Mike Elgan]
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