Such market optimism led to de-regulation of financial markets in the 1980’s and 1990’s, and the subsequent explosion of financial innovation which made it “safe” to borrow larger and larger sums of money on the back of predictably rising assets. The just-collapsed credit bubble, fueled by so-called special investment vehicles, derivatives, collateralized debt obligations, and phony triple-A ratings, was built on the illusions of mathematical modeling.
这样的市场乐观主义导致了20世纪80年代和90年代金融市场的放松监管，后来的金融创新大爆炸使在预期资产价格上涨的情况下，许多人认为借越来越多的钱很“安全”。刚刚破灭的由所谓的特别投资工具、衍生品、债务抵押债券以及虚假的3A评级助长的信贷泡沫，是建立在数学模型的幻想之上的。