If people didn't consume, most everyone would be broke and unemployed. Consumption is at the root of a successful capitalistic economic model.
Precisely right. Nothing has changed. I still get balance transfer offers in the mail for 0% for a year or checks that I can use for a vacation, or a new car, or whatever suits my fancy. The banks get bailed out, curtail their predatory lending practices for about a year, and not it's back to business as usual. Why would the banks care? They are backed by the taxpayer. They can take on as much risk as they want without the fear of failure. What a racket.