Mathematical formula killed Wall Street?

Amigan writes: "Entitled Quants gone Wild , the financial meltdown of Wall Street was caused by a single math formula (Gaussian copula function). From the article: "For five years, Li's formula, known as a Gaussian copula function, looked like an unambiguously positive breakthrough, a piece of financial technology that allowed hugely complex risks to be modeled with more ease and accuracy than ever before. With his brilliant spark of mathematical legerdemain, Li made it possible for traders to sell vast quantities of new securities, expanding financial markets to unimaginable levels.""