A quote from the freakonomics article:
DUBNER: As we’ve seen throughout history with any industry or institution that’s got leverage, that’s got money, that’s got a history itself, reform never comes from within. Nobody is going to say, “You know what? Our industry is really not providing value. We’re getting paid billions, trillions of dollars to manage this money and we’re actually doing a pretty crappy job. A monkey with a dart board would literally do better for just the price of monkey chow. So you know what? Let’s break up. Let’s send everybody home, say we’ve had a nice run. We’ve had these nice 100, 200, 300, 400 thousand dollar jobs just for shuffling other people’s money around poorly.”