Yep
And so, just like the goose that layed the golden egg...
Cash Cow, Deceased; 1 each.
Nope, but it was a systematic conspiracy from top to bottom, from GS to your local real estate agent, loan broker and builder, to extract as much in fees out of the flow of funds involved in forever leveraging up the total global real estate holdings. When valuations exceeded some large multiple of value and when then difference was borrowed from a banking system willing to lend it, there are no "innocent" parties except perhaps the young person starting out life who has a job and a family and just needs a place to live and has no control over what the masters of the universe have done.
Want a guilty party. Try Greenpsan who made the statement that it did not ever occur to him that executives would put their companies at risk by engaging in this kind of behavior, exactly while watching for a decade while they engaged in exactly this kind of bahavior. No, not one decade. Three decades. Just that after two decades of getting away with it they got really greedy.
In my opinion, I would agree with you for the individual who, through no part of his own, loses his job.
Otherwise, people have to be responsible for poor borrowing decisions. The fact that the money was available does not make taking it irresponsibly any more responsible.