Lambda the Ultimate

Last week, the SEC put out a 667 page proposal regarding disclosures for asset backed securities. What I found exciting was this:

We are proposing to require that most ABS issuers file a computer program that gives effect to the flow of funds, or “waterfall,” provisions of the transaction. We are proposing that the computer program be filed on EDGAR in the form of downloadable source code in Python. … (page 205)

http://jrvarma.wordpress.com/2010/04/16/the-sec-and-the-python/

I don't have more time to comment on this, so the post is a bit scrappy. Sorry!