Wall Street’s Math Wizards Forgot a Few Variables - DealBook Blog - NYTimes.com

A look back by the NY Times at what went wrong:Wall Street’s Math Wizards Forgot a Few Variables - DealBook Blog - NYTimes.com: "What wasn’t recognized was the importance of a different species of risk — liquidity risk,” Stephen Figlewski, a professor of finance at the Leonard N. Stern School of Business at New York University, told The Times. “When trust in counterparties is lost, and markets