The Magic Lever

David Brooks

The world economy is a complex, unknowable organism. Most of us try to diversify our investments and balance risk and security to protect against the unexpected.

But a few years ago a group of bankers thought they had the magic tool to help them master financial trends and predict the future. Sophisticated risk assessment models would enable them to rewrite the rules and make more money.

Their arrogance was soon exposed. Along came the financial crisis.

Keep reading here.

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