Summary
In the conservative paradise, a nation of strong, hard-working individuals borrow responsibly and save for future needs. They don't need government telling them how to manage their money. If they do foolish things, they pay the price.
I like that vision, but it has little to do with the world we live in. In the world we live in, hucksters (including some of the finest names in U.S. finance) take good Americans to the cleaners. This has been going on since the start of the republic. If some of the world's most sophisticated investors could fall for Bernie Madoff's con, imagine how easy it was for slick salesmen to lure honest people into predatory loans or fake investments.See the full content of this document
Extract
Awaiting a Money-Savvy Public
So the conservative argument that the market punishes the careless, the lazy and the overconfident is only partly right. And what about the truly ...
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