14-year-old business decision continues to kick H&R Block’s ass

In 1997, H&R Block got into the subprime lending business. The Kansas City-based tax-preparation company bought an outfit called Option One.

The diversification into home loans produced profits for a time. But eventually, the slimy practices on which subprime lending was built took hold like an infection. Block shut down the business in 2007 and sold it the following year.