The Wired cover article this month is worth a read but brings me on a big rant. The article covers how people trained in theoretical physicists migrated into Wall Street over the last 30 years and created the math that lead the financial bubble bursting.
I was trained as a condensed matter theoretical physicist at the University of Illinois at Urbana-Champaign. My advisor created the company that built software similar to the ones that powered this disaster when I was there (mid 90’s). Half of my advisor’s students ended up “quants” on Wall Street.
You’re. In. My. House.
And I have only one anecdote to relate.