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Consumers
Consumers
The problem: Consumers got in over their heads

Too many people took on crazy loans, and it's clear now that many borrowers didn't understand the risks involved.

Proposed Fix: A new agency would evaluate mortgages and credit cards and (one hopes) stop those that are bound to blow up. Obama also wants to mandate that lenders offer at least one plain-vanilla version of their product.

Money's grade: A-

NEXT: Retirement
Last updated July 14 2009: 5:54 PM ET
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