[matwood]

> It was the lender's decision to invest their money into such an obviously money losing strategy and yet they did so despite the high risk.

I have 100k+ of unsecured credit available to me at any given time. If I go and spend that on hookers and blow is that the lenders fault or mine?

I believe the lack of personal responsibility is problem that will not be fixed by absolving even more responsibility.

[blackearl]

It's a bit of both isn't it? They gave you so much credit because they assessed you as the type of person who wouldn't do that. If they were 100% sure that you would be spending recklessly, you'd probably have a limit of a few hundred at most. Part of their job is making that assessment correctly.

[rchaud]

You're conflating "fault" with "responsibility". The second you signed up for the line of credit, the manager who evaluated your application became responsible for what happens afterwards. If you squandered it, it might be your fault, but the manager is the one who'll be getting grief for giving it to you in the first place.