The Perils of Simplifying Risk To a Single Number
Yes giving out so much in bonuses made people focus on short term gains, rather than stable returns, some models were wrong, and hundreds of other factors.
One factor that I think is over looked in this is the number of times the computer programs/ algorithms etc were ignored. I have heard off friends working in the industry that computer models that favoured a less risky lower return approach were binned or ignore. Unwelcome risk reports were made to disappear. It was not computers or mathematicians that are to blame here. It is the people who thought they were smarter than the rest of us. Those who thought it would never end, well all things come to an end, and the sick thing is these are the ones who made the millions and left everyone else in the S***.
Brits Ready Crops For Global Warming
Selection and plant breeding do allow for plants to be tailored to thierenviroments, but this can and has for most crop varieties taken hudreds if not thousands of years of farmers and breeders selceting and crossing promising lines. The advantages of GM are many and varied:
1. as mentioned earlier you can take a gene from any spiceis and place it into the host,
2. you can break linkage between genes
3. you can alter promation of genes
4. other stuff...I won't go on and on.
5. you can do all off this a hell of alot fatser
But as asked above it is mainly the speed factor that makes GM so very appealing.