Wall Street’s Math Wizards Forgot a Few Variables
Date: 14 September 2009
While Wall Street’s quants have been cast as the financial engineers of profit-driven innovation run amok, the real failure, according to finance experts and economists, was in the quants’ mathematical models of risk that suggested the arcane stuff was safe.
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Lehman Had to Die So Global Finance Could Live
Date: 14 September 2009
One year on, the collapse of Lehman Brothers is beginning to look like a necessary evil, The New York Times’s Joe Nocera writes.
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Banking Problems Bigger Than Pre-Lehman, Stiglitz Says
Date: 14 September 2009
By DEALBOOK
Joseph Stiglitz, the Nobel Prize-winning economist, said that the U.S. has failed to fix the underlying problems of its banking system after the credit crunch and the collapse of Lehman Brothers.
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Ex-Bank of England Member Is ‘Astounded’ Lehman Wasn’t Saved
Date: 14 September 2009
The former deputy governor said the decision marked a clear moment when people lost confidence in the markets.
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Prosecutors Investigate Possible Embezzlement in Bolshoi Renovation
Date: 14 September 2009
By DAVE ITZKOFF
Investigators said a federal agency paid a design firm three times for the same work.
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Public Theater Completes Casting for ‘Idiot Savant’ With Willem Dafoe
Date: 14 September 2009
By DAVE ITZKOFF
If you’ve been keeping tabs on Willem Dafoe’s film “Antichrist,” you know that his costars may be wary of taking some lumps. Nonetheless, the Public Theater has found a few actors to appear alongside him in “Idiot Savant,” a new work comedy written and directed by Richard Foreman.
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