An unpopular opinion: a mortgage backed security and the various derivatives built on top of the same are perfectly reasonable products; the only problems in 2008 were (massive) underappreciation/underpricing of credit risk.
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Sure - but a lot of that is size. At that scale, a ten million dollar problem is easy. One of the pitches JPMC had when I was doing recruiting was "We employ more engineers than Microsoft"
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Those societal engineering resources could be better spent.
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