The mortgage people are required to have licenses, those working in banking/investment banking, many more credentials, what good did that do?The Realtor feeding the sharks has a license too. All of them were enabled by some of the most highly positioned and credentialed in our society. Saying that consumers should have to get licenses to borrow, is not a bad idea in itself, but this happened becaused the already licensed and credentialed players wanted it to happen or played along with or without ignorance and they didn’t give a damn what happened to the little unlicensed “consumer” or the economy.

If we looked at people when they came to us for services and said to ourselves “What if this were my son or daughter, what if this were my brother or sister, what if this were my father or mother” that would have been another way to have sidestepped the bubble.
I am not saying individual debtors are not responsible but they are clearly the ones most entitiled to play the ignorant card. I hope they don’t cause themselves more trouble than they have to over it.