their version

Arrogance produced from narcissism, the Republican ‘Contract With America’:

A number of economists, economic policymakers, regulators, and central bankers have attempted to explain away their failure to both foresee and mitigate the current financial crisis by asserting that no one saw it coming. The inference is that they cannot be held accountable for something so unusual, so extraordinary, and so unforecastable that that no one saw it coming.

Naked Capitalism:
Nobody Saw It Coming or Everybody Who Saw It Coming Was a Nobody?