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"If you buy something you don't understand (when all the info is clearly available to you) its your own damn fault." Suppose I sell you a word processing progr
by apsec112 17y ago
"If you buy something you don't understand (when all the info is clearly available to you) its your own damn fault."
Suppose I sell you a word processing program. Inside the program, I include a snippet of code that will cause the program to stop working in thirty days, without telling you anything about it. By your logic, you would not be within your rights to demand a refund, since it is "your own damn fault" that you didn't understand the ten megabytes of assembly code that I sold you.
- jamiequint 17y agoThat analogy doesn't work. They were selling bonds to financial professionals, who had to have complicated ISDA agreements to even enter into these purchases. Part of their job is to analyze the assets they are buying. Its reasonable to expect them to do so.