I agree. Some on this thread would claim that selling these securities is immoral. I'll bet they didn't use that word when these securities were saving money for the client.
When anything monetary goes bust, those who were making money off of it will be the first to point fingers at those who created and sold it. It's NEVER the fault of the investors who should have been prudent in the first place. This is especially true for people who are in charge of other peoples' money. Orange County, California comes to mind.
The funny thing about that fiasco is that NGO's like FNMA and FHLB were the issuers who created the toxic waste but they didn't get any blame. Only the peddlers got sued. And the world turns.