In a message dated 10/27/2008 10:14:31 A.M. Eastern Daylight Time, [EMAIL PROTECTED] writes:
>Morris helped develope the software used by the Masters of the Universe to create these structured products. >But the software was eventually misused by the industry. His book predicts the whole collapse. ================================= One problem with the software was the built-in faulty model based on data where there was never a housing downturn nationwide in all regions. It was based on downturns which had only ever happened regionally, so it seemed reasonable to Wall Street to slice, dice, and pool risks. (According to Advisor to the Federal Reserve's Bernanke and Princeton University Economist, Markus Brunnermeier.) Poor risk managers who weren't paying attention to scholarly research available to them. http://www.charlierose.com/shows/2008/08/14/2/a-discussion-about-the-federal-r eserve **************Play online games for FREE at Games.com! All of your favorites, no registration required and great graphics – check it out! (http://pr.atwola.com/promoclk/100000075x1211202682x1200689022/aol?redir= http://www.games.com?ncid=emlcntusgame00000001) [Non-text portions of this message have been removed] ------------------------------------ Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) <*> To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
