Princeton University researchers report that sellers of financial derivatives could intentionally include bad risk that buyers couldn't detect with even the most powerful computers. "They found that the manipulation could be impossible for buyers to detect either at the time of sale or when the derivative loses money".
During routine scanning of the London job boards throughout 2009, specifically Jobserve I've noticed a number of positions advertised by investment banks for a wide variety of skill sets to build applications for the very financial instruments that caused the meltdown of the global financial system in the past eighteen months. Note also that the SEC in the US and the FSA in the UK have made no systemic changes to any of the rules that allow banks to legally create and peddle toxic debt all of which started with Bill Clinton's repeal of the Glass Stegall act that outlawed just about all the excesses we've seen in the current crisis.
That's why Credit Crunch 2.0 is coming to a bank near you sometime in the next decade.