Felix Salmon from Wired writes about David X. Li's Gaussian copula function which was used to predict risk of default.
Recipe for Disaster: The Formula That Killed Wall Street
Friday, March 6, 2009
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day of reckoning
–noun
the time when one is called to account for one's actions, to pay one's debts, or to fulfill one's promises or obligations
The world is currently facing the greatest economic crisis since The Great Depression. There's lots of opinions and theories flying around about the causes from both ends of the political spectrum. I'd like to share some of my favorites.
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