When people think they know more than they actually do, the potential for massive mistakes multiplies. Or, as outlined in The Big Short by Michael Lewis, there is a potential for absolutely astronomical errors. Following the mantra that “Greed is Good,” Wall Street banks create securities out of thin air and sell them to others who can neither calculate risk correctly nor price it appropriately. Some firms take positions against what they are selling to their customers as conflicts of interest abound. The oversight of ratings agencies and the United States Treasury is entirely absent. Incompetence and ignorance are mixed …