On Dec 7, 2010, at 1:04 PM, david mosier wrote:
Imagine how bad Ginsberg would sound if he was writing Howl today:
I saw the best minds of my generation destroyed by madness, on Wall Street,
dragging themselves through compromised formulas at dawn, looking for an angry fix of quantitative analysis,
greed-headed hipsters burning for the ancient heavenly connection to the starry dynamo of rigged program trading on the New York Stock Exchange,.......:-)
--- On Tue, 12/7/10, JACK SARFATTI wrote:
From: JACK SARFATTI
Subject: mathematician's and string theorist's role in wall street collapse of 9/15/08
To: "JACK SARFATTI"
Date: Tuesday, December 7, 2010, 2:06 PM
"I regard the amount of brain power going into money management as a national scandal. We have armies of people with advanced degrees in physics and math in various hedge funds and private-equity funds trying to outsmart the market. A lot of…older people…can remember when none of these people existed…At Samsung, their engineers meet at 11 p.m. Our meetings of engineers [meaning our smartest citizens] are also at 11 p.m., but they're working on pricing derivatives. I think it's crazy to have incentives that drive your most intelligent people into a very sophisticated gaming system."
http://physicsworld.com/cws/article/indepth/44457