This is a very good post.
To simplify it....everyone KNEW there was a bubble. I was looking at houses a lot during this time. NOT ONE realtor or mortgage guy failed to mention "the bubble we are in" and how one day it was going to all go away. EVERYONE knew what was going on....the subprime mortgages, the overpriced properties, on and on. The lenders, the sellers, the buyers, EVERYONE. And then when it all came crashing down, all of a sudden everyone was surprised and looking to blame other people?
What a crock of ****.
EVERYONE bought a one way ticket on that airplane they KNEW had two ****ty engines and a drunk Captian. EVERYONE. And when it crashed out into the cold Atlantic all the dumbass survivors had the unmitigated gall to act surprised.