Money Bomb

Soviet Revolutionaries, originally uploaded by Dunechaser.

There is an interesting piece over at the New York Magazine from a guy that work on the software that helped plough Wall St., and the rest of the financial planet into the ground.

There’s nothing inherently flawed about securitization. Done correctly and conservatively, it increases the efficiency with which banks can loan money and tailor risks to the needs of investors.

It kinda reminds me of Homer Simpson :

Marge: I really think this is a bad idea.
Homer: Marge, I agree with you — in theory. In theory, communism
works. In theory.
— Pros and cons of keeping the elephant, “Bart Gets an Elephant”

Expanded here.