Yves Smith adds some excellent commentary in her piece, Why So Little Self-Recrimination Among Economists?, which brings to our attention Jeff Madrick's report on The Daily Beast on the just-concluded annual conference of the American Economics Association, How the Entire Economics Profession Failed. Madrick writes, 

At the annual meeting of American Economists, most everyone refused to admit their failures to prepare or warn about the second worst crisis of the century.

I could find no shame in the halls of the San Francisco Hilton, the location at the annual meeting of American economists that just finished. . . .