So the bankers are now testifying infront of congress and are treating congress like their simpletons who can't understand how investment banking works. Bankers have this attitude because they believe they are the best and brightest. I now have a story to shed some light on who these bankers really are.
In my public high school there was a student I will refer to as EW (no he wasn't the magazine Entertainment Weekly). EW was in all the honor and AP classes. He wasn't a stupid kid but he was also a cheat. We, his fellow students, knew it. Some of us were enablers of his cheating and others of us remained silent. His cheating got him into a good college, a college that sends many of it's graduates into the Investment Banking business. I see no reason to believe that he stopped cheating in college or in his banking career. (Alright I don't know if he became a banker but he could of. I couldn't find him on the facebook to verify his career.) My point is banks aren't necessarily recruiting the smartest people, but the people who have cheated to have a transcript that looks like they're bright. And if they have no problem cheating in school why wouldn't they cheat regulators, and the American people.
Oh and by the way. The kids who earned their grades and didn't let EW cheat off of them they went into research science and non-profit development.
Stop being so defensive you bankers, maybe you're not so smart you're just thiefs, liars, and cheats.