It's like a spouse discovering that the other spouse is a crook who's defending themselves by saying "You married me for the nice house, so it's your fault I'm a thief."

People are trained - bizarrely - to assume that this economics stuff is far over their heads and they should leave it to the experts without expressing an opinion on it.

But the so-called experts act without oversight or accountability.

When a doctor fucks up badly and kills multiple people, the doctor is - at least - struck off.

Finance has no formal code of conduct, no regulatory body that can ban individuals from working in the industry, and no system for personal accountability when egregious errors are made.

Criminal fraud can be punished, but stupid decisions that ignore even the most basic requirements of due diligence aren't.

Since financiers have no concept of personal responsibility, default isn't just good economic sense, it's also the only option that can send the industry a message about ethical standards.