Tuesday, 31 March 2009

Is this the man who destroyed the world?

There is a fascinating article in the New York Magazine entitled How I helped build the bomb that blew up Wall Street.

The author is Michael Osinski who wrote the software that turned mortgages into bonds.

As Michael says

The packaging of heterogeneous home mortgages into uniform securities that can be accurately priced and exchanged has been singled out by many critics as one of the root causes of the mess we’re in.


It's a good read and don't be too hard on him

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