Mr. Silver rehashes old stories better told by Michael Lewis. The rating agency issue in his first chapter has little to do with Bayesian Theory and more to do with how individuals were compensated. The issue is that the system was designed so that the individual players involved in the system could win when the system itself failed. He unfortunately has the wrong issue for an interesting theorem.
Report Inappropriate Content
If you find this review inappropriate and think it should be removed from our site, let us know. This report will be reviewed by Audible and we will take appropriate action.