A dignified apology from the always-interesting Golem XIV. He seems to me to come away from this apparent slip-up with his reputation enhanced by this admission. In any case, the reason for posting here is to draw attention to something from his blog that strikes a chord with me:
There is always a danger – which I am very aware of – of getting out of one’s depth when trying to write about issues which depend upon technical aspects of finance and law. The worry of getting out of my depth is never far from my mind. But the alternative is to go back to accepting the platitudes and bland assurances of those ‘smartest men in the room’, who have always claimed to know better and who would like nothing better than for us to stop trying to understand and to stop asking questions.
I do always try only ever to write about what I understand (well, the best I can offer is ‘what I think I understand’, which is a nod to Donald Rumsfeld’s ‘unknown unknowns: but hey, that’s life, and it’s unavoidable.)
But it’s always a balance between pushing against the Smartest Guys in The Room and getting lost in the technical details, which in the ant colony of offshore finance tend to go on forever.