Sorry, but I have a problem with that particular statement (I'm not working in financial services).Yes the Bankers and Stock Market Traders are firmly to blame, loaning people 200% mortgages, but it wont be them that suffer.
You seem to be putting the whole blame on the current state of the property crash on the banks. Yes, they have made loans available that were worth more than the value of the mortgage at the time of purchase, but did the people who were getting those loans brainless when they signed the documents, SHEEP going BAH BAH BAH??
For anyone with half a brain and any life experience it should be clear that recession is a cyclically ocurring event, and that if something goes up it has to come down some day, even slightly.