I am saying that the problems started 20 years ago, and the controls should have been put in place when the writing was on the wall.
Yes, a part of it stemmed from the greed of the financial backers. Some of the Board members of those financial backers were politicians. They were equally greedy and didnt want their bottom line affected, so hence limited or no controls. "We will be long gone when the $hit hits the fan" - hence my 'mortgaging the future' comment - meaning the next generation will have to sort it out.