While I agree about personal responsibility in terms of paying back large loans for houses,flying courses etc....I do think that these financial institutions could have shown more intelligence in how they lent money.Fairly obviously,this is the genesis of the current mess.For example,I would like to purchase my own learjet.I go to the bank and quite quickly they correctly deduce that I could not(ever!) afford it.Hence they do not lend me the money.Ludicrous example I agree,but I hope you get the point.
b/rgds