Yes, 99joelegg, but...
What did you think of the sailing mettyfor!?
I agree with you re: banks having obligations to point out risk. In fact I suspect this requirement is defined by law. The problem I think comes with how they tell you about it. Like on the telly when the voiceover guy tells you that "your home may be at risk if you don't keep up with repayments", but tells you so quickly at the end of the ad, that you literally have to tape it, then playback slowly to hear what he said!
Likewise, having tried to push my brain through the terms and conditions of loans I have had in the past (post-grad education, demonstrably reasonable IQ) I can easily see how the "bad bits" of an agreement get missed out in the reams of legalese.
So yes, I agree that banks could have been a bit, nay, a LOT more honest.
However, it doesn't take much for even a grossly uneducated person to arm themselves with a few precepts that might avert disaster.
"you don't get something for nothing" Six words. The credit crisis encapsulated?
And I didn't say your analogy was ridiculous. I don't know you, so it would never occur to me to insult you like that. I don't agree with it, but that's different.
Regards
JR