The financial institutions, their senior staff, their policy makers, those who decide who to lend to, what rate to lend at, how much they will lend are being bailed out. I never said people who default on payments are not part of the problem. Those who are defaulting are being bailed out as a side-affect of senior financial sector employees who should have known better totally
it up.
You sit someone down infront of a desk in a bank and tell them they can afford a three bed semi in a decent area of town, that they have tried to work towards owning for god knows how long, and they will bite.
Blame the defaulters all you like, if the money wasn't being lent in a criminal fashion in the first place their weak will and poor understanding of how credit actually works would never have been exposed.