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by gamble
5430 days ago
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Speaking as an engineer, no one in the financial industry remotely qualifies as an engineer. A real engineer applies physical laws to create a product with some certainty of functioning properly. Wall street 'engineers' create products that don't obey physical laws - and on a theoretical level, probably can't, since their very existence changes the rules of the market. The financial crisis also demonstrated that even the people creating these instruments don't understand them, much less the customers... and none of them particularly care if spectacular failures results, as long as they aren't the ones left holding the bag. |
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