For quite a few years before the derivatives mess imploded, I was uncomfortable with the sheer complexity of hyper-finance. It seemed that things had reached a point at which most investors couldn't critically evaluate what was going on. We have since seen how trust was abused, and how the skills and technological tools available on Wall Street were too often used to fleece investors rather than to enhance productivity of capital.
Now in the realm of climate science, we again see complex modeling using data which are relatively inaccessible to citizens. The data were held confidential or altogether obscure. Computer models were either hidden or difficult to comprehend. Many people put their trust in experts wielding technology. Again, their trust was abused and their pockets picked.
Dishonesty is nothing new. Unfortunately, with the addition of technology and globalization, fraud and abuse of intellectual power can have a huge impact. With the amplifying effect of technology and global reach, the need for ethics and transparency is perhaps greater than ever. I'm grateful we have so many keyboard experts willing to dig into these specialized subjects. Sunshine is good.
Regarding the mortgage meltdown, when the mortgages were bundled the sale of the bundle itself to banks and institutions were backed by an evaluation of risk whose mathematical equation (which could not be understood by even the best of mathematicians) was found to be pure bunk. When it comes to modern scientists, caveat emptor.