Some of the world’s best economists are in America. Some of the best among them are in corporate business. But giant firms Bear Stearns, Fannie Mae, Freddie Mac and the American International Group collapsed and had to be bailed out by the government. Merrill Lynch escaped closure after it was taken over by the Bank of America. Lehman Brothers has applied for bankruptcy. Wall Street is in a shambles. The world is quaking. So what happened to the experts? They flunked. Never trust experts.