I think he's right when he says that irresponsible banking practices, particularly related to mortgages, have played a part in the economic downturn. As for the oil prices, well we're never going to agree about that, but I can agree with you that he's vastly over-simplifying when he presents it as if the companies' greed is the only reason for prices rising.
Its not just irresponsible lending, it was irresponsible borrowing as well. Everyone is a grown up in a legal contract.
Not to mention government policies which encouraged (or in some cases, required) banks to lend to people they otherwise wouldn't: people who wouldn't be able to pay off their loans.
Irresponsible lending and irresponsible borrowing go hand-in-hand. Irresponsible lending is lending to irresponsible borrowers.
It does go hand in hand I totally agree. A irresponsible lender can't make a wise "not well off" person take out a loan they know they can't afford and a wise lender won't (or at least shouldn't) lend money to a irresponsible borrower. My gripe is that the media is making it seem that a gun was put to people's heads.
__________________
"Moris should be here soon to rub it in my face..." -Pizza
Well as John has mentioned, it sort of was. Except, the gun was pointed at the lenders, not the borrowers. The government has used incentives and force in its dubious pursuit of universal (or near universal) home ownership.