Certainly, there is blame and responsibility to go around. A culture of materialistic excess and consumerist superficiality opens the door to predatory snakes,

Certainly, there is blame and responsibility to go around. A culture of materialistic excess and consumerist superficiality opens the door to predatory snakes, and the snakes then reinforce that same culture by encouraging debt. Adults should not inhabit a fantasy world, and live beyond their means, as if they were temporarily disgraced millionaires. At the same time, the ignorance, naivete, or foolishness of others does not excuse or legitimize the exploitative greed and deceptive practices of lenders. To accept that as licit is to accept as licit a psychopathic notion of business, society, and the human person. You need there to be rational assent to an objective good, and a rational consent. Risk is okay as long as it is reasonable and understood. On the other hand, a casino owner who actively encourages people to piss away their life savings with the unrealistic promise of winning big should have more than a little trouble sleeping at night.