It's quite a stretch to paint him as a victim here. If he'd needed the money, that would be one thing. But he took unnecessary loans to do speculative, risky in

It's quite a stretch to paint him as a victim here. If he'd needed the money, that would be one thing. But he took unnecessary loans to do speculative, risky investing. Sure, the "system" should have known better, but so should he. I was also an Econ major. At no time did I become so out of touch with reality as to actually believe that people behave rationally when it comes to economic decisions. Calling that information dangerous is just disingenuous. The banks failed at risk management, that we know. But there is individual responsibility as well. Every person who got a mortgage with a payment that was more than their take home pay is equally culpable in the subprime crisis. And people like this guy are even more to blame. I know people are bad at probability and statistics, but we shouldn't give them a pass on basic arithmetic.