nancylebov (nancylebov) wrote,

Possibly a little more of the blame to go around

I was contemplating the financial crisis. While I don't give primary blame to the people who bought bad mortgages, they were the last line of defense against a very destructive scam. So where were the folks who write financial advice to ordinary people?

I admit I haven't checked, but I haven't heard anyone saying "I said not to buy adjustable rate mortgages!", and everyone who says they refused to buy one frames it as though it was obvious rather than the result of advice.

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