While everyone is blaming the bankers they need to look in a mirror. Greed is not monopolized by Wall Street.

Even those who make over $100k per year spend as much as they take in with little savings, paycheck to paycheck.

This not a symptom of government of course, nor companies they work for, but spending according to wants instead of needs, or buying a house too early. But the impact of this during layoffs and tightening credit causes all of society to bear the weight of others' personal financial decisions, including banks.

If people had bought within their means, instead spending only upon their wants, saved, thus paid their mortgage loans on time, there would be no collapse of the banks!

People use to save a long time before buying a house, but recent generations live on the edge and want everything now, and jeapordize their housing.

This is also what makes radio finance people like Dave Ramsay so rich for merely using common sense.

As occurs in other parts of the world too, especially in the UK for example!!