Somehow the genius quants — the best and brightest geeks Wall Street firms could buy — fed $1 trillion in subprime mortgage debt into their supercomputers, added some derivatives, massaged the arrangements with computer algorithms and — poof! — created $62 trillion in imaginary wealth.
The whole article in the New York Times is here
This is what I have been rattling on about over several clumsy posts of recent. If I was a real writer this is how I would have put it so everyone would get it.
Smart-arses/ try-hards, they are the ones that dupe the world into all its troubles and we the sheep ----- well you know the story.
And this will never stop as long as man roams this planet which won't be for long that for sure!