Of course!, the reason they fooled everyone so completely was that they were designed to be completely sensible. That's what is meant by the "black swan".
Phil Henshaw > -----Original Message----- > From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED] On > Behalf Of Owen Densmore > Sent: Wednesday, October 22, 2008 12:11 PM > To: The Friday Morning Applied Complexity Coffee Group > Subject: [FRIAM] MIT experts analyze financial crisis, debate cures > > This seemed to be a pretty sound analysis of the current crisis: > http://techtv.mit.edu/file/1448/ > In particular, I was surprised to see how reasonable several things I > had thought to be "bad" were. For example, the "securitization" of > mortgages arose from a very reasonable desire to "smooth out" risk. I > hadn't understood their function before. > > -- Owen > > > > ============================================================ > FRIAM Applied Complexity Group listserv > Meets Fridays 9a-11:30 at cafe at St. John's College > lectures, archives, unsubscribe, maps at http://www.friam.org ============================================================ FRIAM Applied Complexity Group listserv Meets Fridays 9a-11:30 at cafe at St. John's College lectures, archives, unsubscribe, maps at http://www.friam.org
