I understand that many people did not like this documentary at all, or even felt almost "irritated". Individuals think that if someone fails, it's because he or she is either stupid or deserves it (but not themselves, of course!). After all, this is the quintessence of the American dream, where the individual is at the base of everything, is master of his destiny and has the freedom of choice.... Unfortunately, these people are caught up in an illusion! As a former CEO of a asset management company, with experience in both mortgage-backed securities and student loans, I can attest to this: the situation is exactly as described in the documentary. The problem is that people, on average (according to the law of large numbers!), are not as smart or as clever as they think they are, and by combining mathematical analysis with psychology it is easy (for companies with the know-how and resources) to take advantage of this, as the documentary explains very well. Therefore, it inevitably becomes the job of the state to try to protect them.
