Lack of consumer protection as one of the roots of the financial crisis - more evidence

I will continue posting on this, which to me is one of the most interesting aspects - in the meantime:

- an interesting link on the changes made in 2005 to the bankruptcy law, which made personal bankruptcy much more difficult in the US, thus encouraging subprime lending...

- an update by Robert Reich on how this could change as even Citi realizes that foreclosure makes repayment of anything even less likely...i.e. banks end up losing more money with this new system, whereas they thought they'd make even more...