Well, fortunately "financial engineering" hasn't discredited engineering. It is merely an inappropriate and discredited application of the engineering methodology.

A good analogy is Linux. The Linux camp can't understand why people don't switch. Haven't they done everything they were supposed to do, easy installers, graphical desktops, etc? Well no, like those bankers, they're just going through the motions without understanding that at the end of the day, it all boils down to human factors. You can't solve that with equations. You have to grasp it intuitively.