engineers. The buyers are at fault but less so since the seller set the conditions of the transaction. The credit crisis would not have happened even with a certain amount of defaults if the financial engineers hadn't packaged risky loans as AAA bonds and then had them insured. And do you use a credit card? Have you ever read the entire 30 page small print booklet? Did you order by mail, the 200 page appendix to the 30 page booklet where the real fine print is? The people targeted with predatory lending are as unsophisticated consumers of mortgages as you are with credit cards. Lying brokers sold bad mortgages to make commissions.
People cannot learn every detail about the stock market yet they still invest or speculate in stocks. Is everyone who lost money in the stock market at fault for the stock market crash since they didn't fully understand the credit crisis? You rely on your stock broker or 401k manager to explain your investments just like home buyers rely on their mortgage broker to explain the mortgages. Lying brokers sold bad mortgages.
