My modeling was a total waste of time because it assumed the present owners were honest. In fact, they were dishonest and no defensible model could be constructed based upon their accounting or lack thereof.
I think the complexity of our present financial problems will largely disappear if we try to focus more on the obvious. First, it is obvious that bankers, accountants, modelers, and other participants must be rigorously honest.Mathbabe
Guest Post: Modeling fraud in the financial system
Dan Tedder | Associate Professor Emeritus, School of Chemical and Biomolecular Engineering, and Adjunct Professor, School of Mechanical Engineering, both at the Georgia Institute of Technology
Sums it up.
What, exactly, are you modeling anyway?
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