Contraryman, You are wrong on so many levels its not even funny. first of all the lenders are part to blame. Some schmoe pulls up in a beatup dump truck asking for a million dollar loan and says he will do no doc and the lender gives him a quick wink and signs the money away. This happened way too often.
Only in America will a bank give you a million dollar loan without any proof of employment or income. Blame your country and not the people in it.
I also like to blame the media. Growing up there wasn’t 50 reality shows showing you how easy it is to flip, how to make a quick dime in real estate ….
A lot of people got caught in the glitz and glamor and the banks reeled them all in and gave billions away. The banks by far are some of the biggest organized crooks in the history of this country.

People are also to blame as well. They don’t deserve a free pass.

EDIT: I laughed when I saw a headline that Bush was giving a speech on the economy. He is the crook in chief for all of these companies that made billions on this real estate run.