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Great question, but the answers did not go the way I thought they would.
I was thinking more along the lines of the public giving too much credit / blame to the politicians / bankers / etc while ignoring, en masse, their own responsibility for the situation we find ourselves in.
Yes, we had easy money / credit. Yes, we arguably had lack of regulation where it was needed and over regulation where it wasn't. BUT, no one forced anyone to leverage themselves. Bubbles are created by the masses. We had a record credit expansion. These things happen and when they are big enough the bursting is very painful.
Optimism runs away on the way up and pessimism on the way down.
Instead of looking in the mirror, the masses look elsewhere.
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