Having spent many a night thinking at the level of sheer stupidity and irresponsibility in actors creating, buying, and selling financial instruments a dramatic action must be undertaken to prevent the creation of the next collateralized debt obligation which will enrich a select few individuals before damning the population at large dependent on a stable economy for goods, services, and employment. The current economic crisis was not unavoidable, and could have been prevented if someone in a position to do something would have listened to the arguments against allowing the creation and trade in some of the horrible bastardized securities that imploded bringing down the rest of the financial markets, including the reduction of Iceland from a global financial powerhouse to competing with developing nations for relief from the International Monetary Fund.

It is my proposal that the SEC ought to create a division staffed by professional epistemologists to investigate novel and potentially bunk financial instruments, and that there should be a position held b a financial epistemologist that reports to the President and Congress on proposed changes to trading regulations. Our current economic crisis is rooted in poor treatment of information.
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