Gothamist: "Voodoo" Actuary's Work for State Scrutinized by City

sonyactivision

Tue, 03 Jun 2008 22:42:31 -0500

55 Water St. and its jaunty flagpole awaits..

Armchair_warrior

Tue, 03 Jun 2008 15:58:34 -0500

what a scumbag the guy is, he should be strung up by his balls.

ANGRYGOD11

Tue, 03 Jun 2008 13:57:56 -0500

A fiduciary duty is the highest standard of care at either equity or law. A fiduciary is expected to be extremely loyal to the person to whom he owes the duty (the "principal"): he must not put his personal interests before the duty, and must not profit from his position as a fiduciary, unless the principal consents. Mr. Schwartz didn't provide his employers the highest level of care. He royally screwed them (and all taxpayers) over for his personal interests. He should be sued ,lose his license and pick up cans for a living since he showed he cannot be trusted to do any responsible work. I can only hope other work done by consultants for Albany or City Hall will be questioned in the future.

twakum

Tue, 03 Jun 2008 13:14:04 -0500

and I really do know how to spell: Actuary

twakum

Tue, 03 Jun 2008 13:13:34 -0500

who also east actauries for lunch, just had a nice FCAS, with a side of asparagus and an 05 Malbec that went well with the rather leathery actuary....

twakum

Tue, 03 Jun 2008 12:42:49 -0500

Yes, actuaries are smart, thats not my point. Its the political idiots on the board, mostly math-deprived lawyers, who lack the brain power to deal with this. Signed Senior VP of Commercial Underwriting at really-big-ass insurer.

nomnomnom

Tue, 03 Jun 2008 10:49:47 -0500

@twakum Actuarial science may be hard, but these people go to school for this stuff and take tests and are really well paid for doing their jobs. That said, of course the guy is going to use the high range and low range depending on who he's working for at the time.

yoplay

Tue, 03 Jun 2008 10:01:22 -0500

yeas, this is strictly about getting what someone wants now and not considering anything or anyone else. This is prevalent everywhere, til it gets uncovered, if it gets uncovered. That's why the whole system is going to come to a screeching hault, cause the reality is that there's nothing left. The moneys gone, the oil's gone, and now we riot.

zodak

Tue, 03 Jun 2008 09:55:58 -0500

i have a bs in actuarial science so i'm really getting a kick out of these replies...

twakum

Tue, 03 Jun 2008 09:46:45 -0500

becasue, dear, Math is hard, and actuarial science is even harder, and the people who are actually responsible lack the intellectual firepower to deal with it.

Jen Chung

Tue, 03 Jun 2008 09:32:45 -0500

This story makes me so angry--what are lawmakers doing, just accepting the facts as presented by knowingly biased parties? Jeez!