The problem is/was too much credit. This was not by accident. It began in the 1980's under the Reagan Administration with deregulation of lending institutions. "Trickle down economics". Many other measures during this time contributed as well, such as the massacre of laborers ability to organize for assurance of fair treatment.

So, for the next 20-30 years, lenders were indiscriminately handing out money to anyone with a pulse for anything that struck their fancy. Houses, cars, vacations, et al. These are not stupid people. They knew there would be no way for all this debt to be repaid. Obviously they must have had an inclination that Uncle Sam would come to their rescue when their house of cards collapsed. Funny how they lobbied so hard in the 80's for "free markets" and deregulation of government oversight until the shit hits the fan in 2008,at which time they cried like a spoiled kid and got bailed out by said government.

In conclusion, it was an orchestrated robbery of epic proportions. A massive shift of wealth from the bottom 90 + percent of people to the top 10% or so over the past 30+ years. And what did these criminals get for their injustice? Bailed out... million dollar bonuses.. a label of "too big to fail"..

The economy is pretty much a joke.. the game is rigged folks..