This was a great read until I scrolled down at the comments. It seems that the Stryker article has many factual errors - even mixing up the names of countries.
That aside, you do wonder why private debt should become public debt in the U.S. Many made billions during the housing bubble - my ques. is Who has it? and How do we get it back? Goldman-Sachs is now making tons of money and it seems that they owe us more than to just sit on the profits which are needed to stimulate the economy.