Paul Johnson @ FORBES
The lesson we must learn from the 2008--09 crisis is the vital importance in business, not least in banking, of simplicity. Next to honesty it is the most important virtue, and the two are usually connected. Unfortunately, many people--whose brains and ingenuity are not matched by judgment--have a passion for complexity, and electronic technology makes it easy for them to indulge that passion. The clouds of almost impenetrable complexity they create conceal bad judgment, incompetence, unconscionable risk-taking and sheer dishonesty...
...Here are some pointers: Trust what is simple and can be understood at a glance. Anything more elaborate, investigate carefully and thoroughly; if it's too convoluted for you to grasp, pull back. Remember, in financial matters the object of complexity is all too often to conceal the truth, to deceive.
All this is obvious. Odd that we should have to reiterate it. Meanwhile, the wealth of the world has been halved.