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Paula Bone discusses the relationship between several aspects of the mortgage process. She discusses that the more well informed the consumer is, the more likely he/she will have a better relationship with the mortgage company, and become more satisfied with their purchase. Also, she discusses the other side of the transaction. The more likely a mortgage company is to engage in immoral practices, the more dissatisfied the consumer will be with their loan. This is an interesting way to look at the mortgage crisis. It correlates to my point of the need for financial literacy in high schools. If people were more cognizant about their mortgages, they would be more likely to catch a mistake and be happier with their loans.

Kozup and Hogarth discuss the necessity of consumer warning labels on financial matters such as credit cards, mortgage, and mutual funds. They successfully make the analogy of indebtedness to obesity, and our financial state, like our health, can be helped by reading the labels on what they are consuming. The authors describe financial literacy partially as an ability to weigh the pros and cons of financial options available to them, as well as familiarity with the macroeconomic conditions of their environment. The authors also talk about third party financial intermediaries, and the role of policy in consumer saving. The authors offer a great variety of solutions to the problem of financial literacy, and the analogies make it very easy for the reader to understand and learn about the responsibility of financial literacy. Also, the rhetorical questioning involves the reader and implores them to form their own opinion.

This article describes the results of the Federal Reserve Financial Literacy Test on high school seniors. It explains that the results of the most recent test are the worst in the history of the test. The article does a great job linking the poor results with the current mortgage crisis, and expresses the importance of financial literacy in consumers today. The article is very useful in providing concrete data on the state of our country's financial literacy.

Complex diet regimens are starting to look like exotic mortgages and, just like a reliable savings account, good old calorie counting is coming back into fashion.

This article talks about the state of financial literacy. What makes this article different than most of the others that I have come across, is that it talks about financial literacy in an international context. It quotes several well qualified scholars on the issue and not only discusses the need for financial literacy, but the article gives several different solutions for it, rather than just compulsory financa classes. It also discusses President Bush's new advisory on financial literacy and the consequences.