Re: [math-fun] Financial Crisis = Mathematical Malpractise ?

I'm sorry, just...

To establish his credentials as sage of our current predicament, Taleb frequently refers to an August 2003 article in the New York Times in which he correctly predicted the quasi-governmental US insurance giant Fannie Mae had underestimated the risk of a rise in interest rates that would destroy the value of their portfolios.

That was 2003. Here's an article from 1999 making a similar prediction: http://tinyurl.com/4ulb87 "Fannie Mae Eases Credit To Aid Mortgage Lending." This is not a black swan. It's the same old predictable stuff. --Steve