Its one thing the bring it up during a discussion that is based on morality, but quite another on something that is based on numbers. For every someone who comes up and says "heres a solution" there is someone who says how that won't work. There doesn't need to be any vast conspiracy to explain this, its simple math.
Carter started the CRA (Community Reinvestment Act) to "help those who were underpriviledged" buy homes - ie force banks to write loans they wouldn't normally write because the groups were high risk. Clinton expanded it greatly. Bush removed some of the regulations on ratios at banks. We experienced a huge boom in lending, a huge boom in housing, followed by an equal crash. This was something that affected worldwide markets as lots of them invested in the US markets as well, and most other countries have their currency with a base of US dollars. Just as we (up until 1928) had our currency backed by gold, other countries have their currency backed by US dollars.
Apart from this is the constant ridiculous "progressive liberal" movement that tries to help people by making them comfortable with the education and employment level they have - removing any urge (and often value) to attempting to do better, and removing the urgency to create savings by guarnteeing a basic level of living even if you have no money. This is a worldwide phenomena, with I think the most notable example recently being Germany and Greece. Germany was forced to greatly increase immigration to create an artifically larger workforce as their birth rate was declining and the number of people on social services growing. Greece, i'm sure you saw the riots over their bankruptcy.
None of this requires any outside agency to explain - people's expectation of what qualifies as "normal middle class living" is HUGELY different than just 20 or 30 years ago as far as amount of income spent on luxury items. A family now thinks its normal to have flat panels in the living room and every bedroom, 3 laptops in the house and cellphones for everyone 10 or up, forgetting about all the other luxury expenses like starbucks or video games. So all this extra luxury has been financed by this credit and there was never any "real" money moving around, so there is no sinister outsider who took it all.