While it is true that many Americans assumed more debt than they could manage, the banks indulged in selling derivatives and such which became worthless when the housing bubble finally burst. It's also true that there was some pressure to expand lending to lower income people, but there wasn't nearly enough of that to cause the economy to collapse, again it was the banks, plus the unregulated hedge funds and investment companies, that pulled the whole thing down. Presidents from Reagan to Clinton to Bush have worked to deregulate the financial system, relaxing important rules that went all the way back to the Great Depression, trusting those who said they knew what they were doing. What is needed to fix these problems is more rules and regulations (not less) and stronger enforcement, applied to banks and non-banks alike, to reduce their leveraging and limit their risk levels. And now that the American people have rescued the financial industry, we need them to stop giving themselves bonuses and start lending money again (responsibly of course), to get us out of the credit freeze, fueling the resumption of business and rebuilding our economy. I support our President and the Congress in taking the necessary steps to re-establish appropriate controls over the financial system. The fat cats won't like it, they will lobby against it, and they will try to convince us that it isn't necessary, but now we know better. We the people must demand such restrictions be set in place, to protect our nation from another financial debacle like this one.