Exactly. It was really a sort of cosmic justice at work, viewed correctly.
All of those misanthropic little people* should be nominated for Darwin Awards, when you get right down to it.
Policies intended to help those at the bottom can hurt them and society in general. The "college for everyone" crusade may hurt the bottom half of the IQ distribution, as has been discussed here before. The housing bubble and associated financial crisis was caused in part by a "homeownership for everyone" crusade, which necessitated lowering mortgage underwriting standards.
Wall Street played a role in the housing bubble and financial crisis, but so did politicians who pushed for easy credit, quasi-governmental entities such as Fannie Mae and Freddie Mac who purchased low-quality mortgages, off-Wall-Street mortgage brokers who encouraged people to borrow too much, and home buyers who borrowed too much and lied on their mortgage applications. Blaming Wall Street alone makes for a tidy morality play but is not accurate.
