Wall Street is the global image of Capitalism and increasingly, post the recent financial crisis, it has become the symbol for unfettered greed and casino capitalism. Mathematicians and computer nerds on the street (known as “Quants”) are the unlikely culprits as they are the ones who designed those dangerous computer programs which helped structure complex financial products, which nobody else understood and ultimately brought the US economy to its knees.
This video explores the quants’ world and tells us their side of the story and reflects on what is wrong with banking today.[youtube=http://www.youtube.com/watch?v=ed2FWNWwE3I&feature=player_embedded]
And the stuff discussed aren’t new…here’s a TIME cover from the mid 90’s
Kind of affirms the [misquoted] cliche “Those who forget the lessons of history are condemned to repeat them”