You're quite right that it's misleading to omit to mention the greed of people who want what they haven't got and can't afford; but you have to be careful that you don't wander off to the logical conclusion that if people choose to accept the offer of a 1000% apr loan from a bloke who has a reputation for breaking peoples' legs if they don't keep up, that's their own freely made choice - it usually isn't.

I think part of the point is that it's very easy for a bank to stick to the guidelines that suggest they shouldn't offer credit in implausibly inappropriate situations, and quite difficult for people under pressure to apply the necessary sanity checking.

But most importantly - my understanding is that when you look at the detail of these cases, the ever raising credit limit is almost invariably made not so people can make more purchases, but so that they can make minimum payments on their existing loan. And that is pure evil.