You could also argue that with better control of those lenders, the consumption would have been minimised.
We are to blame.... no question... and better now than letting it go another 2-3 years. We are lucky it was only after 5-6 years of craziness we hit the wall.
But no different to junk food ads on TV during kids shows. We know humans get carried away and can be easily convinced that "the system will take care of it.... everything is ok", but unfortunately the system stinks. There isn't even any real system anymore. People go to work with the belief that they can work hard, spend and enjoy life.
Governments are supposed to build the playground and make it a safe playground so society can play safely in. Experts design the rides and competent people provide instruction and guidance on what you should and shouldn't do to make sure you are safe.
The system is broken when there are no rules, guidance or instructions to the designers or ride controllers.
I agree with your points in principal but I still feel sorry for those who worked their guts out, got a mortgage in the height of the property market, and now unemployed and are selling up to be left with nothing but scars.
This alone is driving me to be a competent trader so I can at least distance myself from what governments leave us with.
