Too Much Faith in Models

I read an interesting article today asking where were the quants? After all, wasn’t their job to model all this risk and help avoid it? Their failure reminds me of my first encounter with a simulation error.
Years ago when I was designing digital logic circuits, we had a circuit that was failing it’s [...]

Has Rupert Murdoch Made Product Placement A Revenue Source For the Wall Street Journal?

On the front page of today’s Wall Street Journal, there is an article called “Mounting Woes Left Officials With Little Room to Maneuver.” The last full paragraph on the front page reads like this:
The decision was hashed out over weeks of meetings. They included a conclave of Federal Reserve officials during their annual [...]