Subprime Woes Wall Street Journal Style

Did anyone read the article in Wednesday's Wall Street Journal titled Behind Subprime Woes, A Cascade of Bad Bets? I just finished reading the article. It spoke of a Colorado truck driver who ended up with an adjustable rate mortgage. There were many parties involved, including a company to help with debt relief (actually an increased mortgage) Quoting from the article "Lenders frequently approved borrowers for loans based only on their credit score and often without verifying income and they effectively ignored the fact that monthly notes would later reset". Here in the Ridgewood Real Estate market and surrounding areas we are seeing the fruits of aggressive lending. Short Sales, Foreclosures and REO properties. Is there someone to blame?