What do Wall Street quants actually do?

The math nerds have taken over Wall Street. Why? How? And by god what does it mean? Dan Toomey is the only mortal capable of answering such questions. Suck it 60 Minutes.

Featuring interviews with Gregory Zuckerman (WSJ investigative reporter and author of The Man Who Solved the Market), Inti Mantripp (former quant analyst at Bank of America), and a couple of anonymous hosses who have worked in ~the elite quant space~.