This blog has dealt with ‘oops and loops of many types. As we know, ‘oops and loops, by necessity, lead to oops. One question is the size of that necessity. Too, some oops are more painful than others; hopefully, when the potential pain is large, we'll be more careful.
Engineering is usually careful; recent financial events don't confirm that is so in the monied realms; mostly, this seems to rise from the fact that not all share the pain equally.
But, there is another side of the coin which is larger in our affairs. Let’s call that side NoooP, as in no oops, which bring on aahs. Engineering’s goal is to bring in more aahs via NoooP. Of course, that sharing in the aahs differs, as does the pain on the other side, will bring up some discussion.
One might say that we can reduce the necessary aspect of oops through proper analysis and methods which is a story that the risk people have sold to management. Too, there are sufficiency conditions that will keep NoooPs up and oops down.
Now, given our nature, it is very easy for hubris to set in if all we see is the NoooP side as then a growing chance for oops may be overlooked. And, hubris can apply to engineering, especially that of the financial type.
What other than hubris could lead rational people to think that slicing and dicing junk (tranche and more) would make it other than it is? Is that not like putting lipstick on a pig and expecting something other?
So, expect there to be more coverage of NoooPs on all sides to balance the view and to allow appreciate of those aahs that abound more than not, oops notwithstanding.
05/18/2009 -- Testing in flight is within sight.
11/18/2008 -- More progress in testing is reported. Too, financial oops were very abundantly around in the fall of 2008.
Small Narrowbody Aircraft
22 hours ago