Wired on the 'Copula' formula. Aptly named because it's what left us all f$%^ed.

[Seacrest]

http://www.wired.com/techbiz/it/magazine/17-03/wp_quant

[kj]

I haven't sat down and read that yet (too complicated to read on the toilet), but it looks interesting. I don't know about blaming a formula though. kj.

[JoeH]

Essentially boils down to a formula that was significant as a Math solution to estimating joint risk being used by persons who did not understand the math and the limitations of the formula. But since it gave a quick "number", everyone started using it.