Lipmonkey is correct. Both the buyers, who speculated and lost, and the lenders, who were incautious about who they loaned money to, are to blame.
That one is a little more complicated. According to this:
http://www.politico.com/news/stories/0807/5447.html
at least five politicians are to blame. I'm sure that there are more.
Mostly the US drivers who insisted on living 50 miles from work and driving the least fuel efficient vehicles available. Partly the Chinese and Indians for developing their respective economies, but we can hardly blame them for that.
Partly it's the fault of American consumers who forgot the lessons of the early '70s and didn't pursue clean alternative energy back then.
Finally, it's the fault of the forces against drilling: The oil industry that makes more money when the price is high, the speculators who drive up the price, and the environmental movement whenever it opposed drilling.
Or, going back over your past posts, it may be all the fault of the liberals.
Yes, that's it. It's all liberals, liberals, and more liberals! Smash those liberals, everything is their fault!
