Crisis Finance Public Radio Npr Informat

https://konstant1n.livejournal.com/5929.html Again, some info about the current economy, crisis, finances, etc. Recent article in NY Times (Opinion Page) suggest that somehow computers, math, and complicated financial models are to blame for the current economic situation. Whahaha, what a total BS! Some folks bought up a bunch of “NINA” mortgages, mixed them up with some other slightly better ones and sold other folks as “mortgage-backed” securities [and made very nice commissions along the way]. Now when homeowners stopped paying those [adjustable-rate] mortgages as interest rose up and everything went down to pipes because of that, those folks are saying, “Look ma, computers got it wrong. Math is too complicated”. Yeah … ...

http://konstant1n.livejournal.com/5929.html Again, some info about the current economy, crisis, finances, etc. Recent article in NY Times (Opinion Page) suggest that somehow computers, math, and complicated financial models are to blame for the current economic situation. Whahaha, what a total BS! Some folks bought up a bunch of “NINA” mortgages, mixed them up with some other slightly better ones and sold other folks as “mortgage-backed” securities [and made very nice commissions along the way]. Now when homeowners stopped paying those [adjustable-rate] mortgages as interest rose up and everything went down to pipes because of that, those folks are saying, “Look ma, computers got it wrong. Math is too complicated”. Yeah … ...