Does the mortgage lending industry deserve a bail out?

I rarely write about subjects that are outside the realm of the computer field, but I thought the current US mortgage lending climate deserved some air time.  Should American tax dollars be used to fix the mess the in the US mortgage industry?

How the heck did it get to be the mess it is right now?  Did the people of the US buy homes well above their means?  Were the prices of the homes inflated?  Did the lenders allow this to take place knowing full well the bubble would burst?  So what, they got their commission.

Where is the accountability for all of this?