Eh, little of column A, little of column B on the "conned." They were offered a contract, took it, got something (a home they probably couldn't afford), and th

Eh, little of column A, little of column B on the "conned." They were offered a contract, took it, got something (a home they probably couldn't afford), and then lost their home when rates exploded. "Conned" seems a little strong for agreeing to a bad contract. On the other hand, to the original point, it seems fair to expect bond traders to be more financially sophisticated than home buyers.