There are plenty of credit companies out there to take advantage of desperate situations. Unscrupulous loan officers or lenders will use scare tactics to get borrowers to crawl into a debt hole they have no chance of climbing out of. But they are only the very tip of the credit crisis iceberg.

The average consumer has around $8000 in credit card debt. Many households are spending more each year than they are bringing in. Even with the tightened regulations on bankruptcy, the numbers have doubled over the last few years. If you add it all up then consumer America owes around two TRILLION dollars.

The main portion of the blame has to fall squarely on the shoulders of the consumers. There have always been unreliable lenders out to steal a buck, but this is the first time in history that consumers have found debt to be a way of life. Until the government recognizes that the need for financial understanding and self control are the two keys to surviving the credit crisis then there is not much that can be done.

History has taught us that it is not possible to legislate moratlity. It is also not likely that they will be able to legislate responsibility any easier. The government can not fix this situation with new rules and restrictions on the lenders.

Society will have to make a fundamental change in how it views debt. As long as people continue to live with debt as the norm instead of the exception then the credit crisis will continue to grow.