Good post Noah! Well thought out.
The responses were very interesting. The end result was that EVERYONE was blamed for EVERYTHING. All were solely responsible....none were solely responsible.
I blame the "invention" of the ARM's , the shortsighted borrower, who was trapped into thinking they would always have a job, whose wages would always continue to rise, would never face any type of unexpected financial disaster, and their property would always appreciate at astronomical rates. And finally the lending institutions that could just not say no, and lowered their historical policy of conservative lending.
But that historical policy has not been practiced in over 20 years.
Oh well. My thoughts. 'Nuff said.