The lenders are really stupid. The DemonRATS have caused this by requiring lenders to make loans to unworthy borrowers....Barney Faggot Franks and Chris Dodd are the chief culprits!
Are they? I would expect that many of the people running them set things up so that they would generate personal wealth as long as the housing bubble could be propped up. Then when the bubble went boom they could let their companies go bust while they retire on their personal fortunes.
Why not engage in that style of bank robbery, especially if the government's even willing to buy you a getaway car?