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In the aftermath of the global market meltdown and ensuing economic crisis, leading risk-management technologists are saying it's time for the engineering community to reassess the shortcomings of old risk models based on rigid math and physical sciences assumptions. Despite shortcomings, existing technologies might have helped avoid the current market disaster if they'd been more widely used. Whether the failure to use these tools was a legitimate but shortsighted business practice or malfeasance is still an open question, but also now a public one.
Date of Publication: Nov. 2008