Yeah, it got millions of people into billions of dollars worth of trouble. Heh.
What scares me is that all of those people expect you and me to bail them out for their incredibly stupid decisions. It got the banks and mortgage companies into even worse trouble; and we are bailing them out.
Parents have not taught their children to make decisions. They are spoiled. They carry their ineptness into the workforce; and see where we are now. Also education has been a low priority for most families. We have become a service industry; and shipped our better jobs off shore. This can be seen when dealing with a service or product purchase dispute. The service person probably barely finished high school and can't make proper decisions to help you (no common sense either). Or you keep getting the wrong replacement parts; because they just can't understand you. This is going to get more frustrating as time goes on.