forgetting knowledge

“It is often argued that schools operate with a ‘banking’ view of knowledge in which knowledge is ‘deposited’ in students’ minds; much of this knowledge never gets used and, since it is not meaningfully connected with students’ experiences, is quickly forgotten.” (Paulo Friera ‘Pedagogy of the Oppressed’ taken from Enquiring Minds doc. )
Scary how true this is, even more scary that it was said in 1972. What year are we in now - 2009?
Looking back - what have I learnt that I still remember and what have I forgotten? Gosh, I remember so little!