To: koan who wrote (7512 ) 4/24/2009 4:57:05 PM From: Hawkmoon Respond to of 86356 Do you think Einstein or Watson or Crick were pressured or influenced by money to come to certain conclusions. Or Steven Hawking? they do pure research. In their spare time, when the majority of scientists aren't performing government or private sector research. I know this for a fact because I've had family friends who relied upon government research grants to sustain their business, while they pursued their own independent research. This individual, unfortunately recently deceased from Brain cancer, spent the past 20 years developing a new sampling mechanism for bacteria for the food industry, medical, and biological defense sectors. He funded it primarily via grants to do other gov't sponsored research, grants he wouldn't have gotten had he not met their criteria. Now, in his case it wasn't so much theoretical scientific research, but the concept is the same. And, of course, there is peer review, which is very important to the process. However, it's also not immune to the dangers of "group think". Eisenhower warned us about the skewing of scientific data by government sponsored research centers. It's little different from the resistance Galileo faced against Church funded scientific group think. The catholic church manipulated science to back up their theological teachings. If you didn't toe the line, your funding was cut off and you faced ex-communication. This is very similar to trend I see with regard to Global Warming. It's become a religion and if you are rebellious enough not to accede to the pre-set conclusions sponsored by the "Gorean GW'rs", or to demand more research before coming to a conclusion, you'll become a pariah. You want to see a PERFECT EXAMPLE how scientific formulas get twisted to catastrophic results? Look at the sub-prime mess and David Li's mathematical valuation formulas.This is where Mr. Li made his crucial contribution. In 1997, nobody knew how to calculate default correlations with any precision. Mr. Li's solution drew inspiration from a concept in actuarial science known as the "broken heart": People tend to die faster after the death of a beloved spouse. Some of his colleagues from academia were working on a way to predict this death correlation, something quite useful to companies that sell life insurance and joint annuities. "Suddenly I thought that the problem I was trying to solve was exactly like the problem these guys were trying to solve," says Mr. Li. "Default is like the death of a company, so we should model this the same way we model human life." His colleagues' work gave him the idea of using copulas: mathematical functions the colleagues had begun applying to actuarial science. Copulas help predict the likelihood of various events occurring when those events depend to some extent on one another. Among the best copulas for bond pools turned out to be one named after Carl Friedrich Gauss, a 19th-century German statistician. Mr. Li, who had moved over to a J.P. Morgan Chase & Co. unit (he has since joined Barclays Capital PLC), published his idea in March 2000 in the Journal of Fixed Income. The model, known by traders as the Gaussian copula, was born. "David Li's paper was kind of a watershed in this area," says Greg Gupton, senior director of research at Moody's KMV, a subsidiary of the credit-ratings firm. "It garnered a lot of attention. People saw copulas as the new thing that might illuminate a lot of the questions people had at the time." Message 21696564 The one group you cannot trust are the oil and coal companies scientists. They have a vested interest in their reearch. And a lot of money on the line. I think they are just as "captive" as many government research entities. That's why we need more objectivity rather than politicized hysteria. And everyone's conclusions, including my own, must be called into question and examined.Remember when CO2 levels rose in the Permian age it wiped out 95% of all life on earth! No.. not that old.. Sorry.. But I do remember reading in history how Greenland got it's name... And there probably wasn't much hysteria expressed by the people living back then. Hawk