Re: And the Perpetrators
You make the assumption that the Banks and there Employees where the only ones to Blame for the failures. In truth the politicians where just as much to Blame (if not more so) as the Bankers that failed in there duty to the electorate.
In the US, despite all the evidence of fraud in the subprime mortgage market, the US Congress manipulated the rules under which Freddie mac & Fannie May effectively participated in this fraud.
In the UK, the government of the day change the Bank borrowing rules that then forced the banks if they wanted to stay in business to borrow ever larger volumes of money and participate in every more risky ventures. If the borrowing rules where not changed then the British banks that failed like Northern Rock or Bradford and Bingley or Nation Wide would not have happened.
Also if the UK government would have insisted the regulators did they Job, the PIP scandal would have been spotted earlier and never been the issue it became.