money talks

In an interesting twist, a sudden correction in the market was blamed (by talking heads) on sub-prime mortgages. All due respect to the people involved in the news processing, the economy, even something as simplified as the Dow Jones, does not rise or fall on the strength/weakness of a single economic indicator. I always liken these crashes to the occasional random sales going on in the retail or other sales worlds. But then, most people don't have my stomach for roller coasters.

Now I agree though these loans are terribly bad news. But I also blame the people taking them. Making a purchase as large as a house or even a car is a purchase that should be made with a modicum of educated decision making. Very few people can go out and purchase a house on a whim. And it's a long and involved process (as some of us have seen lately). There are plenty of opportunities to know or at least gain insights into what someone is walking into. Asking questions, no no, just sign here on the dotted line. Its much too complicated for a simple person to understand.

Maybe so, but its done deliberately. Making something easy to understand isn't in the lingo of the trade, but in the wake of events like this (and taken in the idea that maybe docs have the same problem), maybe it would be better if more people in my profession tried to speak and put things into regular terms instead of something more arcane and purposefully confusing.