That would be Greenspan, Bernanke, and Congress who encouraged this idiocy. The Administration of Bush and Clinton also encouraged this. These are our visionary leaders who do not understand the nature of man.....'here, Mr. Borrower. I want to loan you other peoples money, so I can collect a big fat commission." But wait, "You have no job or visible means of income....no problem....you qualify, here is a big fist of other people's money, minus my 8% fee. Thanks".
It is just that simple. Some people ought to have their nutsac cut and denutted.
Figuratively speaking, that's what's happening to quite a few of the investment bankers and hedge fund managers who fueled this charade. It really sucks to be unemployed when you have a $3 million mortgage on a house you paid $4 million for that presently has a market value of $1.5 million. And a wife who married you for your earning power and presumed ability to provide her and the kids with a luxurious lifestyle.