Photo: If the late 1920s was the age of the stockbroker, the early 1930s was a time for apple-sellers - traditionally, a job resorted to by those down on their luck.From Wired News:
A year ago, it was hardly unthinkable that a math wizard like David X. Li might someday earn a Nobel Prize. After all, financial economists—even Wall Street quants—have received the Nobel in economics before, and Li's work on measuring risk has had more impact, more quickly, than previous Nobel Prize-winning contributions to the field. Today, though, as dazed bankers, politicians, regulators, and investors survey the wreckage of the biggest financial meltdown since the Great Depression, Li is probably thankful he still has a job in finance at all. Not that his achievement should be dismissed. He took a notoriously tough nut—determining correlation, or how seemingly disparate events are related—and cracked it wide open with a simple and elegant mathematical formula, one that would become ubiquitous in finance worldwide.
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My Comment: A post that has nothing to do with war, terrorism, and/or military programs. But it is an interesting post from Wired news on today's financial/economic crisis.
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