The "people" who claimed to be surprised by the sub-prime debacle

are the same ones who are "investing" your 401-k money and pension (lucky you!) money..

Just sayin'

These are also the same group who screwed the pooch in the 80's during the savings & loan collapse..and the dot.com bubble in the 90's..

these are suposed to be the "smart" guys..and yet every decade, they seem to "miss" a pretty big problem that somehow explodes right in their faces..and the public ends up taking it in the shorts, yet again..

I'm not so sure this is "accidental". It takes time for capital to amass to a level where "taking the profits" becomes just too darn yummy for them to ignore. Of course their "profits" just happen to be our life savings, our homes, our retirement money, but hey..

It's nothing personal.. it's just business..

Any dumbass "conservative" chickenhawk with access to a microphone will tell one and all that the marketplace will take care of itself and there is no need for government oversight. Intense greed and incompetence is the hallmark of conservative intervention in fiduciary matters. Fuck the customer; but in this case the fucker is getting a taste of their handywork as well.

Because it went from defined benefits to defined contributions with a "?" for benefits. Companies have been trying to find ways to dismantle defined benefits programs since 1980.