Letter To The Editor

Who knows everything?

The terrible news of subprime lending is everywhere ("Subprime disaster heading for Oregon," Aug. 5) and some are arguing that the buyer should beware. Imagine if that was how it worked in other professions! The patient would be expected to know what drugs should never be taken together, the defendant would be expected to understand complex legal arguments and the car owner would have to get his hands dirty to inspect the repairs all because we should know better than to trust a professional?

Clearly that is ridiculous. Perhaps we just need is to have all of the professionals disclose their true clients. The sign in the mortgage broker's office would say, "I am here to represent the best interest of the investment bank who will be buying your loan before the ink is even dry."

MIKE MERRILL Northwest Portland