…Wilmott spends a lot of time with another former student trying to tackle the biggest problem facing quant finance right now: how to price all those CDOs sitting on the balance sheets of banks, the toxic assets we hear so much about. “We don’t have the tools yet to truly price them,” Wilmott says. “People thought we did, but they were nowhere near robust enough.”…

http://www.newsweek.com/id/200015/page/3