grimble-
Every single person except those who have lived within their means is to blame. But biggest responsibility was the Labour Government for economic innumeracy, the bankers for stupid risk taking and toxic debt and then every single person who took out a mortgage they couldn't afford or who maintained their living standards via credit cards and loans.
You realise, don't you, that if businesses 'lived within their means' and never took out loans, then they couldn't grow or expand anywhere nearly like they can when they have access to capital, and that many projects would never get off the ground, because it would be impossible to accumulate enough Capital within a reasonable time frame to fund it?
You do also realise that if consumers all 'lived with their means' then consumer demand for the past several decades would have been minuscule, given that wages have stagnated for the majority of people since the 1980s?
Capitalists want to have it both ways: they want to decrease the cost of wages to run business and reduce taxes which pay for services but also want to make sure consumers keep buying their products. The only way to square this circle is with access to credit.
So, in reality, the whole economic model needs to be looked at. It's a cheap shot to blame consumers for taking on credit in order to keep up with the cost of living and pay for goods and services because their wages are so poor.