Financial engineers may have expertise to solve problem

02/23/2009 | Wall Street Journal, The

While critics complain that financial engineers designed the securities that started the financial crisis, they also may have the know-how to resolve it. "Airplanes fail, too," said Peter Cotton, founder of Julius Finance, a structured-finance firm in New York. "That doesn't mean you don't fix them." Cotton and other math wizards are trying to design a system for fairly buying toxic assets gathered into a "bad bank."

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