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Spaghetti and the financial crisis

chapter1 has a fun post this morning with a guess at what's behind our continuing financial woes - people who (deliberately?) engineer complexity into systems for job security reasons... The idea is that Credit Default Swap and other derivative contracts are so complicated that only the people who created the problem can help fix it, and they set things up that way on purpose. The enlightening analogy is to the software engineer who creates "spaghetti code" essential to a company's systems that only he can understand, ensuring he can demand whatever he wants. I think I have met some people like that...

Some choice quotes:

When the whole buggy mess finally crashed, the nation's management didn't want to take the time or lose face to build a new payroll system, so once again, Spaghetti Code Guy and his pals could name their price.

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