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September 25, 2008


Tony Facade

Dr O'Halloran, I would be interested to know if you have read Nassim Taleb's books on randomness, and whether his ideas factored into your commentary above. I ask because it is painfully clear to me that risk models such as those used for flood frequency and economic meltdowns are woefully ineffective. May I also refer you to this link addressing the $1.64B fine that AIG paid as a result of accounting practices that E Spitzer found unacceptable?



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