I'd blame the banks and large performance bonuses paid by selling loans.
It's the bank and bankers fault and the US treasury for not keeping an eye on it, just as it is here with the Bank of England not having the power to cap the level of debt.
Just imagine, some of that $700 billion will be paid in large salaries to the arseholes that caused all this at your expense.
The same kind of bailouts are happening here with Bradford & Bingley and Northern Rock.
The Conservatives want bankers to be responsible for their own fuckups which is what should of happened long ago....
http://uk.news.yahoo.com/rtrs/200809...e-fa6b408.html