The banks did their part because they were pressured under the Community Reinvestment Act (by Congress and community organizers) to lend to borrowers who could not repay. Even a child knows such a system is doomed.
The free market system was injected with a huge infusion of socialism...and all we are left with is another example as to why socialism doesn't work.
But not to worry, after the foxes raided the hen house and killed all the hens...our country was stupid enough to elect the most "audacious" fox president.
If drastic action is not forthcoming shortly, our "goose" is cooked too.