Technology and the great mess of '08: keynote

The financial crisis of 2008 is one of the great technological disasters in history. None of this would have been possible without computers. Who is to blame for the interconnected structure for disaster that came so close to taking the global economy with it when it crashed? What should we be doing to avoid a dreadful encore performance? Part IV of "Nerds on Wall Street" sorted out the key technological issues that caused so much damage: a lack of transparency in markets for what we now call "toxic assets", which led to pricing by models instead of by markets. Models that proved toxically flawed, applied so recklessly, they nearly broke capitalism. This talk brings this discussion up to date. Are current proposals based on the right information and data? Are modelers learning that the models aren't the markets? Can we achieve safe markets without stifling innovation?