Fair enough, David. Even if that's not the whole story, it's clearly a huge part of it. I think that credit and debt is an enormously useful tool (ask any small business owner). But its abuse is not good for anybody.

The consensus seems indeed to be around some re-regulation. (Even "The Economist" has editorialized that). It's also important that the pendulum not swing so far back the other way that honest people have too much difficulty getting credit.

All things in moderation is what I'm trying to say.