= 27d567bc2d48d9f40e9ccc20ea370b15)
SilasBarta comments on Open Thread June 2010, Part 3 - Less Wrong
You are viewing a comment permalink. View the original post to see all comments and the full post content.
= 783df68a0f980790206b9ea87794c5b6)
Loading…= b715d02e85f7b3b4ae65ca3d3e450868)
Subscribe to RSS Feed
Powered by Reddit
= f037147d6e6c911a85753b9abdedda8d)
You are viewing a comment permalink. View the original post to see all comments and the full post content.
Comments (606)
They're smart. They're capable of figuring out a creative solution. And the financial instruments they designed were creative, for what they were intended, which was to hide risk and allow banks to offload mortgages to someone else. Someone benefited from the creativity, just not the average worker or consumer.
I recommend The Quants-- those guys weren't just hiding risk in mortages, and it's plausible that they were so hooked on competition and smugness that there was a lot of risk they were failing to see. They weren't just hiding it on purpose.
Yes, capable of figuring out a creative solution to maximizing their goals when faced with the incentive structure of science. You think that the people who remain fail to do science when faced with these incentives, so why do you expect these others be more altruistic?