With the help of mathematics, this man managed to provoke the global financial crisis. David Lee developed a formula that provided an opportunity to earn unlimited money in the market.
Gambling is dangerous. There are many examples in the world when the fate of entire families collapsed at the gambling table. Thanks to David Lee, the world economy found itself in a recession, which continues to this day, ruining the lives of many millions of people.
It all started as always, very harmless. A brilliant mathematician developed the formula for the "Gaussian copula function" in order to limit the probable risks of investors. This was done on purpose. That's why David Lee was hired to work in an investment company.
Tests of this mathematical formula showed excellent results, as a result of which the entire stock market began to literally worship it.
Investors have now stopped fearing losses and started pouring huge cash into bonds backed by debt obligations. The magic formula, developed by David Lee, ensured that such investments are completely safe and will bring guaranteed returns to investors.
The volume of the money supply has become simply fantastic. Before the invention of the formula, about $ 270 million was invested in bonds, and in 2006 the total amount of transactions reached a record $ 4.7 trillion.
Up to $ 62 trillion have been invested in credit default swaps. And then the trouble came from where it was not expected at all. The mortgage lending market collapsed in the US. David Lee's win-win formula began to falter. People rushed to sell bonds, and the market literally collapsed under the pressure of the colossal money supply. The 2008 global economic crisis broke out.
