One of the principles that I have often argued for is that people should be willing to admit their own ignorance and trust to experts.
On the matter of legislation to bail out the mortgage industry, a group of nearly (as of this writing) academic economists have signed a letter suggesting that the bail-out plan not be rushed. They say that Congress should take the time to hold proper hearings.
Three of these economists have won the Nobel Prize.
I am going to have to say that I have no way grounds to declare that I know more about the economic implications than they do. For me to say that you should trust anything I write on this issue over them would be nonsense.
So, I have to say that we should follow their advice.I wanted to bring this to your attention.