Who's To Blame?

It's been suggested that the current global crisis' origin stems from the recklessness occurring in American housing industry. And the root of the housing problems can be found in four U.S. states; California, Arizona, Nevada, and Florida. The actions of the principals in those states have resulted in the vast majority of foreclosures, bad loans, irresponsible governing, and overzealous building. Do you blame the builders who saw a bandwagon they wanted on? Do you blame the municipal, county, and state governments who permitted these dense tracts of housing to be built? They recognized a revenue stream that, in theory, would always appreciate. Or do you blame the citizens of these bloated communities who demand an ever expanding list of services and Jetson era public schools but are unwilling to foot the bill? The combination of community pressure to increase services while cutting taxes was never going to be sustainable. This is the same culture that turned the house into an idol to worship instead of a practical means to avoid the elements. Before we start placing blame on the greed of Wall Street and bankers or the blindness of government regulators, we must address our own responsibility.