I'm not sure about your last point. It seems there are some extremely important implications from the determination that "black swan" events are often of incalculable risk. I already posted the link farther down the thread, so I won't repost it, but I highly recommend reading the article - it is written by Taleb and reframes this concept in terms of the current crisis. It really is one of the most interesting high level overviews of the problem I have come across.