> all they did was follow the advice given to them by the market The market doesn't give advice, it's risk and return. Don't take more risk than you can handle

> all they did was follow the advice given to them by the market The market doesn't give advice, it's risk and return. Don't take more risk than you can handle is investing 101. In any case, if the market is unsustainable (non-productive assets appreciating several times inflation is indeed unsustainable), these people are going to get screwed regardless. Either completely later, or almost completely now. Maybe in the future, after the smoke settles, governments will be more wary of moral hazard. Probably not, but one can hope.