Will The Madoff Debacle Finally End The "Who Could Have Known?" Era?

Will The Madoff Debacle Finally End The "Who Could Have Known?" Era?

Arianna Huffington: See if this sounds familiar: an ambitious and risky undertaking carried out with hubris, and featuring the weeding out of anyone who raises alarm bells, little-to-no transparency or accountability, and the deliberate manufacturing of ambiguity so that if -- when -- it all falls to pieces, the excuse "who could have known?" can be used. Is it Iraq? Fannie Mae? Citigroup? Bernie Madoff? The correct answer is: all of the above. It's amazing how much these debacles have in common. And not just in how they began but in how they ended: with those responsible being amazed at what happened, because...who could have known? In fact, when historians look for a name that sums up the Bush II years, they could do worse than calling them The "Who Could Have Known?" Era. Click here to read more.