CWmike writes "Former Reserve Bank introducer Alan Greenspan has long praised automation as a tool to limit risks in money markets. In 2005, he said better risk scoring by high-performance calculating made it feasible for lenders to extend credit to subprime borrowers. But today Greenspan told government that the data fed into numbers* systems was often a case of garbage in, garbage out. Christopher Cox, captain of the Securities and commute Commission, told the cabinet that bad code led the credit rating agencies to give AAA ratings to mortgage-backed securities that didn't deserve them. Explaining in his testimony what failed, Cox noted a 2004 decision to rely on the number cruncher* models for assessing risks — a decision that fundamentally outsourced safety & legal compliance solutions - skillsoftwww.skillsoft.comcopyrights:cite this source roget's ii: the new thesaurus duties to Wall Street firms themselves."

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Mark