Share 'Subprime crisis: did statistical models fail? Where to go from here?'
Some people blame the crisis on poor statistical models, particularly credit scoring models predicting the chance that someone will be able to pay his/her mortgage. Supposedly, these models did not work well / were not enough tested on people with poor credit or stated income, subject to new exotic types or mortgage such as reverse mortgages. What are your thoughts on this issue?
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