I have wondered for some time whether the investment community were a bunch of con artists, or deluded.
I believe that I have my answer.
In the November issue of the US edition of Playboy is an article titled 'How to Destroy a Bank'.
In it, the author interviews several investment bankers. All of them lost a great deal of money in the recent collapse; are convinced that they can make it back with 'hard work'; and see financial Doomsday as impossible.
In other words, they are idiots.