So you think it's the realtors job to tell people what is or isn't in their best interest?
No. Similarly, I don't think it's the job of a mortgage packager to do anything other than package mortgages and move them on.
Keep in mind, I'm not the one advocating sending assorted politically unpopular middlemen to jail.
And yet no one has gone to jail or been prosecuted in any meaningful way.
That's because the housing bubble was not the result of a crime. A few crimes were committed, sure - it's hard for trillions of dollars to move around without a few people stealing some of it. But the main culprits of the bubble didn't do anything criminally wrong. They just collectively made bad bets in the same direction.
Sorry, but there just isn't a villain behind every bad event.
[edit: added emphasis in second to last paragraph. Apparently some people are not seeing that sentence.]
No. Similarly, I don't think it's the job of a mortgage packager to do anything other than package mortgages and move them on.
Keep in mind, I'm not the one advocating sending assorted politically unpopular middlemen to jail.
And yet no one has gone to jail or been prosecuted in any meaningful way.
That's because the housing bubble was not the result of a crime. A few crimes were committed, sure - it's hard for trillions of dollars to move around without a few people stealing some of it. But the main culprits of the bubble didn't do anything criminally wrong. They just collectively made bad bets in the same direction.
Sorry, but there just isn't a villain behind every bad event.
[edit: added emphasis in second to last paragraph. Apparently some people are not seeing that sentence.]