If you're familiar with the market and the dogma at the time, the idea was that securitization used mathematical techniques to actually reduce risk, and these were being sold as such. What's wrong was after this bubble popped, the taxpayer was on the hook for the socialized bailout, while the temporary profits were privatized. As such, while people like Fink may not have seen this through from start to finish, their ignorance or unwillingness to blow the whistle on something as destructive as this calls into question--in my opinion--their competence or earnestness in indicting others to effectively do what he should have done.