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If we have heard it once, we have heard it every time we sue a broker: but you knew there was risk and you have to be responsible for the risk you take. They will say this to everyone, even if you were a senior citizen, even if you have never run your own investments, no matter what assurances they gave you to get your account. (It is okay, we can deal with it on your case, don't let it discourage you.) But what about Bear Stearns....
Of course, the Bear Stearns employees, the real workers, have it rough. Many lost their retirements too--not just their jobs. But the company of Bear Stearns took all the risk it could, to make money, and rather than falling apart, it is bailed out. The executives who made millions and millions in the last five years, from that excessive risk, just go on. Really, is it fair to criticize a customer who is not a professional in risk, when highly trained executives, who made it their jobs to understand risk, got drunk on the returns from risk, and then just leave when things end?
