Question: What are ‘quants’? Paul Solman: Quantitative experts, or if you prefer, “number jocks” or “math whizzes” who have gone to “Wall St.” (ie, the world of finance). They construct formulas for investing and packaging investments. Take their…

Question: Why does AIG need yet another bailout? Paul Solman: As Joe Nocera and Frank Partnoy explained on Monday’s show, it’s all about the “counterparties.” These are the large financial institutions with whom…