Paul Krugman posted an interesting piece in the NYT today, in which he ruminated on the testimony offered before congress by some of the leading banking executives, and concluded the following:

Do the bankers really not understand what happened, or are they just talking their self-interest? No matter. As I said, the important thing looking forward is to stop listening to financiers about financial reform.

I definitely agree that bankers (or anybody for that matter) shouldn’t be allowed to write their own rules. We shouldn’t regard people as benevolent geniuses just because we find it difficult to understand them. Krugman’s point reminds me of some of my own musings on the topic (for example, see “Money Can’t Buy You Trust: What We Won’t Be Getting for $1 Trillion“). In short, there’s no such thing as blind trust.