The Cost of Sludge in the Home Mortgage Market

Sludge is a thick goy by product of some industrial process that just gunks up the works. There's lots of different kinds of sludge, from massive forms you have to fill out to apply for student aid if you're going to college and also business practices that involve sludge. A lot of people make poor decisions. Why has a decentralized and competitive market not solved a problem like that? I mean, the syndican mejust says, the lobby is better than the regulators.