Economics got it all wrong?

Are mainstream economists able to withstand the massive blow on their credibility they received during the recent and still on-going world-wide crisis?
In response to Paul Krugman's article ("How Did Economists Get It So Wrong?"), one can read this article ("Who Are These Economists, Anyway?", translated into French here) by James Galbraith (not Kenneth) which is very insightful. For example, talking about the sub-prime credit market crisis, he writes "None of this was foreseen by mainstream economists, who generally find crime a topic beneath their dignity".
Still, economics is not a science based on hard-facts acquired by experiments. It has many flaws. There are two contradictory theories backing the same set of evidence. For each new crisis in the world, I am sure that one can find some economists who can pretend to have predicted it and say "I told you so".
Yet, a lesson which could be taken from basic physics is that, in order to prevent a dynamic system from becoming unstable, you need to put some dampening, aka regulations and taxes in economics.