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This is how the ratings agencies created their risk models.
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Quants: The Alchemists of Wall Street
16 May 2010 5:08 AM | View CommentsQuants are the math wizards and computer programmers in the engine room of our global financial system who designed the financial products that almost crashed Wall st. The credit crunch has shown how the global financial system has become increasingly dependent on mathematical models trying to quantify human (economic) behaviour. Now the quants are [...]
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