My bank account is with WAMU (Washington Mutual). Am I an idiot for not understanding their precarious condition before their takeover?
There are certain things in our society that we all have faith in. For example, food. If I buy food that is toxic, am I an idiot? If I allow a surgeon to operate on me and he/she has a license forgery framed on the clinic wall, am I an idiot?
Where is the line that separates idiots from victims? And how do you know these people were not truly victims of a con man?
There is no information on those that lost their investments other than he convinced them to take the other side of his trade, meaning he lied to them. To me that is not sufficient to conclude they were idiots. If anything it tells me they were victims.
I don't know ... were you in charge of WAMU's investment strategies?
If so, then yes, you are to blame.
If not, then you're not to blame; but whatever idiot was in charge of WAMU's investment strategies is just as big an idiot as Mr. Lahde makes him out to be.