To quote what the psychiatrist, Dr. Krakower, chillingly tells Carmela Soprano: "One thing you can never say: You haven't been told."
Related: You might think they'd know better by now. But noooooooo! "The Dangers of Pension Obligation Bonds". (With extra nice touch: this unanticipated problem is due to a fix to an earlier problem.)
Also related: the private sector, no surprise, is smarter.
The stunning improvement in business and family balance sheets is arguably the most impressive and under-reported characteristics of this U.S. recovery (see chart). The latest government statistics indicate that the private sector has massively deleveraged following the debt binge from 2000 to 2008.